60 pubs in Derby expected to close as Chancellor slashes business support in the Budget 

JN
22 Mar 2023

New analysis by the Liberal Democrats reveals that over 60 pubs, restaurants and cafes are at risk of closure in Derby following the Chancellor's Budget last week.

The analysis also predicts that 1426 businesses will close across the East Midlands.

The Budget confirmed that business energy support will be slashed by 85% by moving from a cap on unit costs of electricity and gas to a discount covering a small proportion of the price.

According to the Federation of Small Businesses "one in four small firms anticipate either closing, downsizing, or radically changing their business model" when business support is slashed in April.

Liberal Democrat analysis shows that small and medium sized pubs, restaurants and cafes are facing an increase in bills of £231 million - around £2,805 in Derby per business.

Liberal Democrat Spokesperson for Derby, Joe Naitta said:

"What good is cutting the price of beer in pubs if there are no pubs left open? The Conservative Government is failing businesses who are facing the very real possibility of closing their doors this April.

"If the Tories actually understood hospitality businesses they would extend energy support for at least another six months as Liberal Democrats have called for."

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Notes :

Data here taken from NOMIS, an ONS Service tracking labour market statistics