Bosses to slash jobs and investment after shock property tax raid

Tim Martin, chief executive of JD Wetherspoon, claimed that ‘prices will definitely rise’ in response to the tax increase - Heathcliff O'Malley Hotel, pub and restaurant chiefs are preparing to cut investment and jobs after Rachel Reeves launched a stealth tax raid on the hospitality industry. Some of Britain’s biggest chains said they would be forced to rein in spending plans and raise prices as a result of reforms to business rates – a form of property tax – that have left many nursing tens of millions ...