Soaring inflation will cause issues for trade
Manx hospitality venues on the Isle of Man have expressed concerns that there will be ‘further difficulties’ ahead as people battle with a cost of living crisis.
Pubs in the UK are said to be closing at their fastest rate yet with new research showing there are 7,000 fewer in England and Wales than there were 10 years ago.
Figures from the UK show the trade is in steep decline, with rising closures and falling footfall.
Andy Saunders is the chairman of the Licensed Victuallers Association on the Isle of Man.
He says the picture isn’t quite so bleak here, after a successful TT fortnight, but soaring inflation is a big worry for members: