The oldest pub in England faces paying £22,000 a year EXTRA in business rates
Ye Olde Trip to Jerusalem in Nottingham, which has been in existence since 1189AD, is to be hammered by a 65% rate hike
THE oldest pub in England is to be hammered by a 65% rate rise as ministers consider an ‘action plan’ to soften the blow on small businesses.
Ye Olde Trip to Jerusalem in Nottingham which has been in existence since 1189AD faces an annual hike of more than £22,000 a year under the new plans.
The watering hole - a favoured stop for crusading knights en route to the Holy Land - sits at the foot of Nottingham Castle and is promoted as “the oldest inn in England”.
Pub chiefs have told Mr Hammond the industry was “not prepared” for the “significant rises”.
They said: “Margins in our sector are already under intense pressure.
“We have already seen evidence of outlets closing as a result of the planned increase.”
The Federation of Small Businesses said it was unfair for businesses to be taxed on an “arbitrary property valuation” and not on the money they make.
Spokesman Alan Soady said: “Pubs can be among the losers in this broken business rates system, because their location is often in higher-value premises such as on high streets.
“If the result is that some traditional local pubs are left unable to afford as many staff, it is clearly not going to help the pub, its customers or the local economy.”
Lib Dem leader Tim Farron added: “The local boozer is facing a rates hike while Amazon faces a cut.
“This shows how out of touch ministers are.
“The local pub is at the heart of communities and the government seem committed to heap more costs and more overheads on them.
“These rates hikes should be the death nail for pubs up and country.”
It comes as the Chancellor considers an intervention to ease the “cliff edge” rates hikes for some businesses who face extinction with rises up to a staggering 300 per cent.