Sam Martin, CEO, Peckwater Brands, said: “Prominent voices from the hospitality space have been calling out for direct relief and support ahead of this and every other financial statement, but time and again no special measures are announced to support hospitality businesses. Businesses that have survived the pandemic, lockdowns, staff shortages and supply issues will now have to face the fresh challenges of austerity and downturn. The measures announced today like tax relief and the energy price guarantee will go some way to safeguarding our independent pubs, cafes, restaurants, and bars – though only time will tell if they will be enough.

We all hope that these measures will be enough to ensure stability and growth in the long term, but even with the intervention that has been announced, I predict a difficult year for hospitality businesses. Consumer spending will be reduced significantly, and supply and staff shortages remain a major challenge for many.

Hospitality is not just vital in providing jobs and revenue for the economy, it provides an invaluable part of daily life to millions around the country. Every venue saved is a reason to celebrate, but with our research showing that only 59% of pub owners believe their business will still be open in 12 months, we can only hope that the measures announced today will make a difference.