The owner of Harvester, Toby Carvery and All Bar One, Mitchells & Butlers, has become the latest hospitality business to warn it will take a £100m hit as a result of the tax changes outlined in the October budget.
The pub and restaurant group said it was facing “cost headwinds” in its current financial year, which began at the start of October, because of the increases in the national minimum wage and employer national insurance contributions (NICs) announced by Rachel Reeves, which are due to take effect from next April.
