Heartbreak as pub forced to close down as Labour ‘jeopardised’ business | Politics | News

A beloved UK pub has closed its doors, saying the Government’s “openly hostile” stance was increasing pressure. The Golden Fleece in Nottingham said in a statement: “It is with great sadness that we announce the closure of the Golden Fleece. “Serious safety concerns about the building, combined with relentless and unsustainable increases in running costs (particularly utilities) have made it impossible to continue the operation.

“These pressures have been further intensified by a Government approach that is openly hostile to pubs and the wider hospitality sector, increasing pressure without meaningful support. This decision has not been taken lightly. We thank our customers, staff and local community for their loyalty and support over the years, and regret that circumstances beyond our control have forced this closure.”

Manager Marc Paling, 35, told our sister site: NottinghamshireLive Comments were also made about the extensive repairs that needed to be made and the increasing costs.

He said: “Everything is going up. Gas and electricity are up. Business rates were much lower for the first few years but then they rose rapidly.

“Then the minimum wage continued to increase, and we agree with that, but as a business we need to keep our costs low.

“It doesn’t achieve that balance because then we would have to raise our prices, which would further jeopardize our business.

“It’s great that they’re lowering rates right now, but while everything else is going up, your utilities and insurance and all that other stuff is piling up.

“It’s not possible to keep costs down right now because everything is increasing.”

He added: “I think rising business costs are 100% a common problem. Unless you’re a big chain at the moment, you’ll see more and more small businesses going.

“But some pub chains also need to be sold because people can’t afford to go out anymore.

“People don’t spend as much money as they used to because you have to be careful with your money now.

“This is a widespread problem in the UK, you don’t see free houses anymore because big companies like Greene King and Wetherspoon are buying people out.

“This is not sustainable. People will be oppressed. Eventually I think we’ll just have Greene King and Wetherspoons. I’ve got nothing against them but it’s a shame.”

It comes as Chancellor Rachel Reeves has been criticized for her approach to doubling business rates in “thousands of pubs” after costs to employers were already increased by National Insurance payments and a rise in the minimum wage.

Sir Keir Starmer has confirmed that the Government is working with the pubs sector “to ensure they get the support they need” following outcry over the impact of a looming increase in business rates.

Ms Reeves previously said pubs would receive “further temporary support” in the downturn following the budget decision.

But the Prime Minister and Chancellor appear to be resisting calls to extend financial aid to other struggling hospitality businesses; Ms Reeves says the “biggest concern” is about pubs.

The rise in rates is due to a combination of property revaluations and the withdrawal of Covid-era discounts that Ms Reeves announced in November.

Ministers had set up a £4.3bn fund to help pubs transition to higher rates, but the Chancellor acknowledged “there is still a large upside for some pubs” and confirmed they would receive extra financial help with an announcement to be made “over the next few days and weeks”.