Top restaurant owner made star of BBC series warns of ‘bloodbath’ and ‘all your favourites closing down’ after tax raid
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A TOP restaurant owner, made the star of a BBC series warned of a "bloodbath" and "all your favourites closing down" after the new tax raid. Andy Jones, the founder of the London's Jones and Sons predicts the hospitality industry will be hit hard when the budget kicks in.
![[Jones & Sons Dalston, , https://www.instagram.com/p/CKBiB_InXWZ/?img_index=1]](https://www.thesun.co.uk/wp-content/uploads/2025/01/msemail_jonesandsons_1619107029_2557577596344536282_485020169jpg-JS964418300.jpg?strip=all&w=702)
The former chef admitted that last December was the worst month ever for his business in its entire 12-year history. He explained that businesses in the hospitality industry were walking a "tight rope on a balance sheet all year round" and fears this will result in "all your favourite places closing down".
Speaking to Sky News' business and economics correspondent Paul Kelso, Andy Jones, founder of the London's Jones and Sons, said December had been the worst for his business in its 12-year history.
https://news.sky.com/story/money-blog-personal-finance-consumer-inflation-mortgage-cheap-eat-bonds-pound-blog-live-sky-news-13040934]" class="img-fluid lazy-image blur-up placeholder rounded custom-width">
Speaking to Sky News' business and economics correspondent Paul Kelso, Andy Jones, founder of the London's Jones and Sons, said December had been the worst for his business in its 12-year history.
https://news.sky.com/story/money-blog-personal-finance-consumer-inflation-mortgage-cheap-eat-bonds-pound-blog-live-sky-news-13040934]
He added: "With what's going to happen this year, especially in hospitality, there is going to be a bloodbath which is going to ensue when that budget kicks in.". As part of Labour's Autumn Budget 2024, Chancellor Rachel Reeves announced the rise to employers' national insurance tax increases from 13 per cent to 15 per cent.
![[FILE PHOTO: Chancellor Rachel Reeves speaks to the media after a tour of Maidstone Hospital on December 10, 2024 in Maidstone, Britain. Dan Kitwood/Pool via REUTERS/File Photo]](https://www.thesun.co.uk/wp-content/uploads/2025/01/RTRMADP_CHINA-BRITAIN_1068537156_RC28MBA1MVEC_2025-01-11T024853Zjpg-JS962904185.jpg?strip=all&w=960)
The 1.2 per cent increase will impact employers with a Secondary Class 1 National Insurance contributions (NICs) liability, or with employees with earnings of at least £5,000 a year. Foretasted to impact 1.2million employers, around 940,000 of which will see an increase to their employer NIC.
![[Andy Jones, founder of the London's Jones and Sons, said December had been the worst for his business in its 12-year history., , https://www.instagram.com/p/CXQd9suoVO0/, ,]](https://www.thesun.co.uk/wp-content/uploads/2025/01/msemail_jonesandsons_1640463139_2736725631573218794_485020169jpg-JS964413120.jpg?strip=all&w=702)
It's aim is to "help fix the foundations of the public finances and invest in public services". However, the measure has resulted in Ms Reeves being accused of putting a “handbrake on the economy” by hiking taxes on employers. She said: “I am determined to go further and faster to kickstart economic growth, which is the number one priority in our Plan for Change.
![[Jones & Sons Dalston, , https://www.instagram.com/p/CKBiB_InXWZ/?img_index=1]](https://www.thesun.co.uk/wp-content/uploads/2025/01/msemail_jonesandsons_1610624161_2486418135307861987_485020169jpg-JS964418302.jpg?strip=all&w=702)
