BrewDog boss: Pints should cost £27.50 due to energy price rises
The co-founder of BrewDog has said a pint of its Punk IPA beer would cost £27.50 if the bar chain put up prices in line with soaring energy bills.
James Watt said passing on cost increases would mean a burger and fries would be priced at "about £48.75" and warned businesses faced a "crippling combination" of inflation and squeezed consumer spending power.
He wrote on LinkedIn that the government would only "make the situation worse" when it reduced energy bill support for businesses from April.
"We're only in the foothills of a crisis which poses a far bigger threat to companies than [Covid-19]," he wrote.
"The sad reality is that there are many great businesses that simply will not survive 2023.
"This climate is incredibly challenging for BrewDog. Fortunately, we have the scale and backing to survive. Many smaller businesses aren't so lucky.
"The Government threw the kitchen sink at Covid but unless it acts quickly tens of thousands of businesses vital to employment and our economy will wither and die."
Watt warned last summer that BrewDog's beers would become more expensive and said a crate of Punk IPA cost 25% more to make than it did in 2021.
He called on ministers to cut or scrap business rates, reduce tax, offer a year-long VAT holiday for hospitality and to "cut a deal rather than trying to ban strikes".
Watt also suggested offering state-backed loans to protect "the really small" businesses, with repayments starting in 12 months' time.
"If this means spending a bit more money to support business through this nightmare now, it's better than spending the money on unemployment benefits if thousands of businesses go under," he added.
"Without more help, we're sleep-walking towards utter disaster for the tens of thousands of businesses in the UK."
BrewDog was founded in 2007 and now operates over 100 bars worldwide.
A petition calling for hospitality VAT to be cut to 10% launched last year and needs fewer than 4,000 signatures before the government has to respond.
Image: Graeme J Baty / Shutterstock
