A recent study by FruitySlots, analyzing data from the Office of National Statistics, suggests that the price of a pint could reach £25.70 by 2040. This projection follows a significant 11% rise in pint prices over the past year, bringing the average cost to £4.69 in the on-trade.
The study also highlighted a worrying trend in pub closures, which have increased by 51% to 80 per month in the first quarter of this year.
James Rosen of FruitySlots commented, “The study provides insight into the costs faced by patrons today and potentially in the future.”
Tom Porter, 44, from Berkhamstead, expressed his astonishment at the current prices: “I’m only just getting my head round paying £5 for a pint. If it gets to a tenner, that’s bad enough – I’ll certainly not be getting the rounds in – and if it gets to £25 a pint, I’m going teetotal.”
Alex Probyn, president of property tax at Altus Group, noted, “The fundamental issue for business is not necessarily the system but how much tax it actually generates. It is a tax that has risen 49% during the last 14 years, with businesses across all sectors now paying £9.48 billion more a year than in 2010. While the pledges to drive down bills permanently for the high street are welcome, business had hoped for more detail and a timeframe in achieving this.”
Emma McClarkin, chief executive of the British Beer and Pub Association (BBPA), added, “The pub closure figures for the first quarter of this year reflect the continuing high costs of doing business, especially with factors like high energy costs and food and drink inflation remaining higher than the topline inflation rate.”
