Pub chain with 1,365 UK boozers issues stark warning to Rachel Reeves | UK | News
A UK pub chain boss has warned that business rates are destroying high street businesses. Chris Jowsey, managing director of Admiral Taverns, described the challenges faced by high street businesses as business rates “penalize” them and favor online retailers. Admiral Taverns has 1,365 pubs across the UK and aims to make these venues the “heart” of the communities it serves.
In an interview with City AM he said: “Over the last 20 years every party has promised to reform business rates but none have delivered.
“This Government has said they will do this over the next few years, but they must deliver on that promise. If they continue to tax business rates like this then they will destroy not just pubs but high streets.”
He noted that current business rates are tied to property value, giving online retailers an unfair advantage. “If you do that, you will only penalize bricks and mortar and those types of businesses on the high street will suffer accordingly,” he argued.
“The cost base is growing faster than revenue, so the ability to make a profit from trading is constrained. That’s the key challenge.”
Despite this, Admiral Taverns is currently enjoying significant profits. The group saw its revenue rise 8% to £210.4 million in the last financial year following a £13.5 million investment.
A Treasury spokesman said: “We are supporting the high street with a £4.3bn Budget package to limit major bill rises – halting rising bills for more than half of commercial properties.
“Our Small Business Plan will help SMEs access the tools and support they need to unlock their potential, and later this year we will publish a new High Street Strategy, building on the £5bn Pride in Place program to regenerate our neighborhoods and high streets.”
