“Government must urgently bring in meaningful business rates reform and phase in new employment costs so pubs can keep boosting the economy, supporting local jobs, and remaining at the heart of communities.”.
Pubs are set to come under further pressure when a raft of cost increases linked to the October Budget, such as higher National Insurance contributions and an increase in the minimum wage, come into force in April.
The closures come amid pressure from higher borrowing costs and high energy bills for businesses, alongside a continued squeeze on household finances as mortgage and rent costs increase.
It urged the Government to overhaul the current business rates system of property tax for high street firms, including pubs, to help ease the burden on the sector.
“Consumer demand is there, however, profits are being wiped out with sky high bills and pubs are facing yet more rates and costs come April.
