A Sneinton pub owner has revealed his high-end punters are helping his business to thrive despite November’s devastating Budget for hospitality.
Rachel Reeves’ plan included many measures that have seen landlords across the country fearing for their futures, including raising alcohol duty, increased wages and changes to business rates.
But, The Bath Inn owner, Piers Wheatcroft-Baker says he is optimistic about the business’ future.
The 60-year-old, said: “Surprisingly enough, we’ve been less affected by it, because the pub is, as you can see, quite nice.
“The budget, in all honesty, has not affected this pub so much, because we get a more discerning and a more wealthy clientele.
“Whether that sounds incorrect or not, but that’s the fact of the matter.”
Piers has owned the pub for four years and in that time has undertaken a complete renovation of the building.
The pub is now experiencing success on social media and has become a destination for many in Nottingham because of its lavish décor and reputation as a lovely place.
Piers said: “We’re in vogue at the moment.
“People are coming and they’re coming from far afield.
“From more affluent areas, such as West Bridgford and Lady Bay and Burton Joyce.
“The consequence of that is that the business is thriving, but I’m fully aware that we are the exception to the rule.”
Despite attempts in the budget to lessen pubs’ business rates, a change in the way they are valued will see a significant rise in practice for most landlords.
Also, with alcohol duty set to rise, many pubs are worried for their futures.
Organisations that represent hospitality and pubs in the UK have criticised the measures introduced by Reeves in the Budget.
Chair of UK Hospitality, Kate Nicholls said: “Wage rises, holiday taxes and monumental increases in rateable values have put even further pressure on hospitality businesses as a result of this Budget.”
The British Beer and Pub Association (BBPA) is also concerned following the Budget.
BBPA CEO, Emma McClarkin said: “It would be remiss not to mention how damaging beer duty rises and higher wage bills will be for the cost of doing business and the subsequent higher prices for consumers, which is why Government must better support Britain’s brewers and pubs who can deliver growth.”
