Wetherspoons is cutting its prices on beer by an average of 20p.

The pub giants announced the move to slash prices last weekend.

Brexit supporter and Wetherspoons chairman Tim Martin claims the price changes are an example of how leaving the customs union on October 31 would allow the end of "protectionist tariffs", which would reduce prices in bars and supermarkets.

City urges Wetherspoon's to put up prices for profit growth

Martin said: "At the current time customers and businesses pay tariffs on thousands of products which are imported from outside the EU.

"These tariffs are collected by the UK government and sent to Brussels.

"Provided we leave the Customs Union on October 31, the government can end these protectionist tariffs, which will reduce prices in supermarkets and pubs. 

"In order to illustrate this point, Wetherspoon has decided to reduce the price of Ruddles bitter, brewed by Greene King. 

"A lot of politicians have misled the public by suggesting leaving the Customs Union would be a ‘cliff edge’ or ‘disaster’. 

Evening Times: Beer prices have been slashedBeer prices have been slashed

"This is the reverse of the truth.  Ending tariffs will reduce prices."

It comes a short time after the City urged the chain to put prices up.

City analysts voiced fears that growth had not translated into higher profits.

Earlier this year, profit before tax was forecast to come in at just over £100million for the year compared with last year's £107.2million.

But analysts at Peel Hunt said their confidence in the company's full-year outcome is "declining, from already low levels" due to the effect of cost pressures and low pricing on the group's margins.