Seaside towns could be financially crippled by Rachel Reeves’s Budget with changes to National Insurance and minimum wage earmarked as potential killers by Bournemouth Pier boss Rory Holburn.
Speaking on GB News, Holborn told Adam Cherry he is fearful of the “dramatic” changes and how they will dissuade business owners from hiring young people to help during the summer months.
He said such changes would be damaging given the how piers cement themselves in seaside towns as ‘Disney Castle-like’ landmarks and are often one of the key drivers for tourism.
“Seasonal businesses employ a lot of youngsters”, he said.
Rory Holborn hit out at the Budget changes
PA / GB NEWS
“My first job was clearing glasses and washing dishes - I started as a 16-year-old. We used to employ a lot of that young age and bring them through.
“We now have junior managers and supervisors. They’re going to cost us an absolute fortune now.
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Rory Holburn spoke to Adam Cherry on GB News
GB NEWS
“Not just with the minimum wage going up, but the National Insurance level coming down to £5,000. This hits the business dramatically.”
He told GB News reporter Adam Cherry it is not just piers being hit hard - it is the hospitality sector as a whole.
“It’s erratic as the climate changes for a lot of people’s finances”, he said.
“The uncertainty I think makes it very difficult for people to plan what to do. We are facing a difficult summer with the results of the last Budget.
Rachel Reeves has come under scrutiny over her policy decisionsPA“It’s going to be a challenge for the whole hospitality industry.”
Tim Wardley, chairman of the National Piers Society, highlighted their economic importance to the Express: "Seaside piers are vital drivers of inward investment to the resorts they serve as well as being a part of our historic fabric."
The Treasury defended its approach, stating: "We delivered a once in a parliament Budget to get growth back into the UK economy after over a decade of stagnation."
A spokesperson highlighted that "more than half of employers will either see a cut or no change in their National Insurance bills."
They also pointed to business rate cuts for hospitality from 2026 and corporation tax being capped at 25 per cent.
