The price of a pint in a pub could soon hit £10, according to the boss of Wetherspoon Tim Martin. Talking to LBC radio Mr Martin said there were "no limits" on prices during the cost of living crisis, reports NottinghamshireLive.
He said the the price of a pint will "quite probably" reach £8 and added: "There are certainly some pubs that do that, and it’s gone up more than you would imagine.
"Around the country – I go around the country visiting pubs and talking to our pub managers – whereas it’s not a fiver in our pubs, it’s a fiver in a lot of pubs from Penzance to Wick at the moment. So yeah, the price has gone up a hell of a lot. Will it go to eight quid? Quite probably, if things go on as they are."
Mr Martin added: “Everybody at the moment, one way or another, is struggling with inflation and rising prices, and some of the big breweries are diluting the alcohol content with their beers to avoid these charges, these extra charges. It’s financed by tax, because if you bring beer down to 3.4%, which is much lower than almost any beer you’d ever buy in a pub, you get a big tax break on the basis of the incredibly stupid reasoning that people will drink less alcohol if they drink weak beer.
"That’s just not the way people are. So, I think it’s a bad idea. Brewers have jumped on the bandwagon, they can’t resist the 25p tax break, but we are going to try and avoid doing it. Well, we might have, but we want the proper strength beers.”
Last month, Mr Martin warned of continued pressure on the hospitality sector from higher costs.
“Sales in the last quarter have continued their positive momentum, although inflation, especially in labour, energy and food costs, remains a more intractable issue,” he said.
“In order to bear down on inflation, political parties should encourage free enterprise, rather than a reliance on additional regulations.
“A lack of understanding among some senior politicians about the need to encourage a successful free market economy presents a real threat to the future prosperity of the country.”
It came as the firm, which runs 834 pubs, revealed that like-for-like sales jumped 12.2% over the three months to April 30.
Wetherspoon said sales over the Easter week were the “highest ever” for the company as it looks set to post record total sales for the year to July.
It added that the first bank holiday weekend in May was “exceptionally strong” and included its busiest Saturday performance on record.
However, it said the coronation weekend was “slightly less strong” with a noticeable quiet Saturday as many people chose to celebrate at home.
