Business
Holding Announcement
Holding Announcement.
About this update from J D Wetherspoon Plc
[{"type":"text","content":"\n \n \n RNS Number : 4380G\n Wetherspoon (JD) PLC\n 17 March 2020\n \n \n \n \n 17 March 2020\n \n \n \n \n \n J D WETHERSPOON PLC\n \n \n \n \n \n Holding Announcement\n \n \n \n \n \n \n \n \n \n \n \n Wetherspoon notes the comments of Prime Minister Boris Johnson yesterday. \n \n \n \n \n \n Wetherspoon chairman, Tim Martin, said: \n \n \n \n \n \n \"I believe the government will make a tactical error in resorting to de facto \"lockdown\". \n \n \n \n \n \n \"The Dutch position (see appendix 1 below) of frankly admitting that most people will get the virus, while protecting the elderly and sick, thereby building up group immunity, is the best path for the UK. \n \n \n \n \n \n \"As scientists have said (see appendix 2 below) lockdown for twelve weeks results in a further breakout of infections in July. \n \n \n \n \n \n \"The difference in keeping the hospitality industry open, even with reduced sales, is colossal (see appendix 3). The industry contributes £120 billion a year of tax and six million jobs. Wetherspoon alone contributes £2m a DAY of tax (see appendix 4).\n \n \n \n \n \n \"Lockdown delays the inevitable and destroys the tax base at the same time, which will cripple the NHS and the economy.\n \n \n \n \n \n \"The Prime Minister should show Dutch courage and follow the example of their PM Mark Rutte - and avoid taking French leave of his senses by following the lockdown example of perfidious Emmanuel Macron.\n \n \n \n \n \n \"The Dutch approach has the additional advantage of being in tune with the robust instincts of the nation. This is evidenced by Wetherspoon sales which have been positive in the last few weeks in spite of storms and health scares.\n \n \n \n \n \n \"The Board continues to plan partially mitigating actions. The Company will announce its interim results on 20 March 2020, when a further update will be provided.\"\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Appendix 1 - The Dutch Approach, The Telegraph, 16 March 2020\n \n \n \n \n \n \"Dutch Prime Minister Mark Rutte warned in a televised address to the nation that most residents would get coronavirus, but he ruled out a full lockdown like other European countries.\n \n \n \n \n \n \"Rutte says his government wants to bu...