Menu
Sign In Search Podcasts Libraries Charts People & Topics Add Podcast API Blog Pricing

Steph McGovern

👤 Speaker
1872 total appearances

Appearances Over Time

Podcast Appearances

The Rest Is Money
286. Dan Neidle: Pubs don’t deserve a VAT cut

Because...

The Rest Is Money
286. Dan Neidle: Pubs don’t deserve a VAT cut

Isn't it in the landlord's interest to fill those units and actually have some income coming in?

The Rest Is Money
286. Dan Neidle: Pubs don’t deserve a VAT cut

But if it doesn't change how much the costs are for a business, they're not going to be able to sustain the costs.

The Rest Is Money
286. Dan Neidle: Pubs don’t deserve a VAT cut

So it's a lose-lose then for the landlords, isn't it?

The Rest Is Money
286. Dan Neidle: Pubs don’t deserve a VAT cut

But that just feels like deeply unfair.

The Rest Is Money
286. Dan Neidle: Pubs don’t deserve a VAT cut

Can't you bring in a rule which says you can't, landlords can't put up their rent if business rates come down?

The Rest Is Money
286. Dan Neidle: Pubs don’t deserve a VAT cut

Like, can't you legislate for that?

The Rest Is Money
286. Dan Neidle: Pubs don’t deserve a VAT cut

For example, one of the units I've got up here, we have, our business rates have gone up quite dramatically with the changes.

The Rest Is Money
286. Dan Neidle: Pubs don’t deserve a VAT cut

If they came down and then the landlord said, we're going to put the rent up, we'll go, we'll stuff you, we'll move somewhere else.

The Rest Is Money
286. Dan Neidle: Pubs don’t deserve a VAT cut

Or our business just wouldn't be able to make money.

The Rest Is Money
286. Dan Neidle: Pubs don’t deserve a VAT cut

Dan, I'm going to ask you to sit tight for a couple of minutes while we go to a quick break.

The Rest Is Money
286. Dan Neidle: Pubs don’t deserve a VAT cut

So as a person with a small business, can I just ask then, if you, so as things stand, the costs in our business have gone up about 26% when you look at all the different elements of employer and national insurance contributions, minimum wage rises because we employ lots of people who are young.

The Rest Is Money
286. Dan Neidle: Pubs don’t deserve a VAT cut

with business rates, with rents going up, with energy and everything else, it means that things are a lot tougher and the margins are a lot smaller.

The Rest Is Money
286. Dan Neidle: Pubs don’t deserve a VAT cut

And we are now considering closing some of our bigger units, even though they're profit making.

The Rest Is Money
286. Dan Neidle: Pubs don’t deserve a VAT cut

So how do you help?

The Rest Is Money
286. Dan Neidle: Pubs don’t deserve a VAT cut

And that's going to mean potentially jobs being lost there.

The Rest Is Money
286. Dan Neidle: Pubs don’t deserve a VAT cut

So how can you help small businesses at this point and not leave businesses like mine that are making money from deciding to bail from it all because it's just not worth it anymore?

The Rest Is Money
286. Dan Neidle: Pubs don’t deserve a VAT cut

No thoughts, Dan.

The Rest Is Money
286. Dan Neidle: Pubs don’t deserve a VAT cut

And then all those people out there who are absolutely grafting, who are, you know, doing 12, 14, 16 hour days to run their businesses, which eventually might become bigger ones, but you've all got to start somewhere.

The Rest Is Money
286. Dan Neidle: Pubs don’t deserve a VAT cut

What do they just give up?