Cornwall icon Rick Stein hit by Reeves’s tax hike as hospitality jobs vanish

The Rick Stein Restaurant at the Red Empire at The Red, warning that the Rachel Reeves tax raid on employers pressures jobs and stimulates pressure on the largest private sector companies in Cornwall.

The TV chefs group-which includes restaurants, hotels, shops, and cooking school and electronic business-informed £ 18.9 million in the pioneering seafood restaurant (Padstow) last year, a decrease of 1.3 million pounds. Pre -tax losses expanded to 459,000 pounds, that is, more than twice the previous year. Through the broader empire, sales decreased by 5.4 % to 30.4 million pounds.

The managers said that the expectations were “still difficult”, and I blame Reevz’s decision to increase national insurance contributions to the employer and reduce the payment threshold. And they warned that the “nature -led nature” in hospitality means that the sector is “strongly affected by” high employment costs, as it has lost about 90,000 jobs already hospitality at the country level since the October budget.

The group employs 355 employees, making it one of the largest employers in Cornwall. In an interview with him recently, Stein himself argued that the advisor’s strategy risks spending on spending: “Because the economy does not seem very good, people do not come out much, so the only thing that you do not want to do is to impose a heavy tax on the types of industries that already produces things.”

Although lists are set and prices are raised to compensate for the high costs of food, energy and commodities, Stein’s managers admitted that the numbers of customers have decreased and the living crisis in revenue is still.

Ian Fitzgerald, the administrative director at the Seafood (Padstow), urged Reeves to rethink her position: “Hospitality is the manufacture of the first people, and we are proud to employ many talented professionals. The advisor needs to reduce our financial pressure in the autumn budget to prevent further losses in jobs and support the hospitality industry.”

Stein and his ex -wife opened the generation of their first restaurant 50 years ago. The empire extends today through Cornwall, but its future depends on moving in a ruthless mixture of tax increases, low demand and high costs.