The bi-level venue, which has an elevated stage, wraparound balcony and capacity for 250 people, draws a decidedly hipster crowd.

BBC: Philadelphia��s musical roots

"However, the planned VAT rise will place additional pressure on already elevated inflation expectations and next month's Inflation Report will need to consider the risks of relying on spare capacity in the economy to bring down inflation and expectations, " said Lee Hopley, the EEF's chief economist.

BBC: UK interest rates maintained at record low of 0.5%