Promises made in this week's budget may be "too little too late" according to the landlady at a South Warwickshire pub.

The chancellor, Rachel Reeves, announced a range of tax rises on Wednesday (October 30) in an attempt to raise £40 billion to fund the NHS and other public services.

Changes included raising the minimum wage to £12.21 for over 21's, increases in NI payments for companies and the raising of the cap on bus tickets to £3.

But Emma Woodhouse, licensee at the Fleur de Lys in Lowsonford, said some of the announcements could spell more tough times for small businesses - particularly in hospitality.

Emma Woodhouse runs The Fleur de Lys in Lowsonford with her husband Nick (image by Fleur de Lys)

"There certainly weren't any Halloween treats for the hospitality industry in this week's budget," she said.

"The combination of increased NIC's for employers along with the change in business rates relief from 75 per cent to 40 per cent will be absolutely crippling for many small businesses in our sector. 

"Whilst the promise of a more even playing field for rates relief in 2026 was welcome, it may be too little too late for many pubs and restaurants for whom these new measures will be the final nail in the coffin after the continued uncertainty of the last few years."

Other announcements made on Wednesday included news the employment allowance - meaning small firms reduce their NI liability - is increasing from £5,000 to £10,500.

The main rate of corporation tax will stay at 25 per cent until the next election for businesses profits over £250,000.

David Blick of Warwickshire Gin Company (image supplied)

But David Blick, director of Warwickshire Gin Company, was equally down on Wednesday's news.

"As a small business in the hospitality industry the budget offered nothing but additional costs," he said.

"The increase in NI and the threshold coming down will make it more expensive to operate in an already struggling sector.

"With a significant jump in Minimum wage in 2025 being introduced, I can see more businesses failing in the sector, price increases (contributing to inflation) and reduced investment.

"And it's disappointing the broken energy market isn't being addressed."

For how the budget could impact you - take a look at our breakdown by local expert Alex Sharp of GAM Home Loan Mortgages.