Thursday, February 26, 2009

VERY interesting things going on with the world of the British Pub right now.

The much vaunted Community Pubs Inquiry reports that the great institution of the British Pub is ailing due to insensitive tax regimes, cheap booze in supermarkets and of course all the other suspects the British Beer and Pub Assocation punts on behalf of pubcos as the crux of the collapse of the national pub estate.

Gerry Sutcliffe, in his infinitely well informed position as Minister for Esoteric Things, congratulated the APPBG for the quality of their report which completely, comprehensively, FAILED to consider whether OWNERSHIP of pubs and the way pub estates are operated, has anything to do with why pubs are closing...

OR to state the blindingly obvious: something like £2billion a year taken out of the industry by propcos has nothing to do with pub closures and brewers' stressed profits?

Where do pubcos fit into this odd scenario. In the wings waiting for government hand outs just like the banks. Difference is the banks lost and are still losing massive amounts of money. Here while pubs are falling like ten pins in a bowling alley, the propcos, insspite of their pathetic standing in the stock market, are still generating fantastic cash flow and remain highly profitable.

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