'We can't absorb the cost, so we're going to have to pass it on': West Midlands landlords facing rising costs and uncertain futures post-Budget
It could be a bleak time ahead for pubs across the region as they look at rising rates and increased costs and try to work out how to survive the ongoing cost of living crisis.
The landscape of the industry has grown increasingly bleaker as costs seem set to increase through business rates, National Insurance and minimum wage increases.
In the autumn Budget at the end of November, the Chancellor Rachel Reeves announced a new discount that would see retail, hospitality and leisure businesses save 5p for every £1 paid in business rates.
However, for landlords such as Neil Taylor at the Fox at Shipley and Chris Millard at the Posada in Wolverhampton, the benefits don't seem to be apparent as they said they can see increases coming in 2026.
Mr Taylor said that while the amount he expected to pay in business rates was up in the air, he said he expected to see his costs go up by as much as £20,000.
He said: "The rates are still up in the air because they haven't 100 per cent come out and said what they're going to do, but everyone's rateable value has been increased and ours up to about £78,000, which mean my rates, according to the multiplier used from last year, could be as much as £43,000.
"They've also said they're getting rid of the retail and hospitality relief, but on the flip side, they're doing to reduce the multiplier, but you have to log onto the Government gateway for that and I have to wait 14 days for my calculation, so I could see a £20,000 increase in the rates bill.
