An average of over two pubs a day were shuttered in the first half of 2023 in England and Wales, with fully 383 closing down amid high inflation and an energy crisis exacerbated by the net zero agenda and sanctions war with Russia.
Britain’s governing Conservative (Tory) Party previously offered pubs — traditionally one of the central parts of local communities — a 75 percent reduction in local property taxes to help them cope with the damage inflicted by COVID-19 lockdown policies, but this is set to expire in March 2024. Worse still, rates are set to be hiked from next April, parallel with inflation, with real estate company Altus Group estimating this will add six percent to publicans’ bills.
“With energy costs up 80 percent year-on-year in a low-growth, high-inflation and high interest rates environment, the last thing pubs need is an average business rates hike of £12,385 next year,” said a spokesman for the group.
Prime Minister Rishi Sunak and Chancellor of the Exchequer are opposed to reducing the historically high tax burden in the short to medium term.
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