London has lost more pubs in the first half of this year than anywhere else in England, according to data from real estate analysts Altus Group. A total of 46 pubs closed in the capital in the period up to the end of June, compared to 52 in Wales and 383 across the UK as a whole. The total for the first six months of 2023 almost matched the entire number of closures in 2022, when 386 pubs shut permanently.
The trend for falling numbers of pubs in the UK has been running for around 20 years, with studies indicating a decline in most London boroughs. However, the sector’s employment figures have seen an increase over the same period as venues have become larger. In London, the rate of growth in the number of employees was 12%, compared to an average of 3% across the UK as a whole, according to the Altus Group data.
Altus Group’s president of property tax, Alex Probyn, has called for the chancellor to extend business rate relief for the sector beyond spring 2024. Pubs, like other hospitality, leisure and retail businesses are currently eligible for a 75% discount off their business rate charges for the 2023/24 tax year, with a cap of £110k per business. However, this ends on 31 March 2024, with business rates set to rise in April 2024 in line with September 2023’s headline rate of inflation, potentially adding over 6% to bills.
Probyn has warned that pubs face additional difficulties as energy costs have increased 80% YoY, and that on average, business rates could rise by £12,385 this year. A government spokesperson said support measures had already been put in place, including 50% business rate relief and the freezing of alcohol duty rates
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