Hospitality businesses will be forced to close while others will have to slash jobs and investment as a result of changes to national insurance announced in the budget, according to a letter to the chancellor signed by the bosses of more than 200 of the UK’s largest restaurant, pub and hotel businesses.
The letter – with signatories including the Premier Inn owner Whitbread and pub and restaurant group Mitchells & Butlers – comes as reports suggested Tesco would face an additional £1bn in costs over the course of the current parliament as the result of the increase in employers’ national insurance contributions (NICs).
