Fuller’s boss slams ‘government interference’ for pub closures

The boss of Fuller’s pubs has warned that “unprecedented government interference” has damaged pubs, leading to thousands of closures.

Simon Emeny, the chairman of the Fuller, Smith & Turner pub group that was founded in 1845, said tax increases over the past decade had led to the loss of 5,800 pubs.

In particular, he slammed the rise in employers National Insurance Contributions imposed by chancellor Rachel Reeves.

Mr Emeny said: “Since the hike in National Insurance Contributions for young employees, the country has seen youth unemployment rise to 15 per cent, creating another self-inflicted problem for society that the government now needs to solve.

“The recent introduction of the Employment Rights Act 2025 only serves to add extra cost and bureaucracy, causing pubs, that are famed for delivering part-time jobs for both younger and older workers, to rethink their hiring strategy.”

“When I reflect on the changes seen in our sector over the past 10 years, it has been a period of unprecedented government interference, additional taxes and regulations.” he added.

The hospitality sector in general is feeling the squeeze. It employs 3.6m people and contributes about £95bn to the UK economy.

Figures from the British Beer & Pub Association show that two pubs are closing every day. There are 45,000 pubs left in the UK, down from 60,000 in 2000. The trade body said the price of a pint has soared, as a result, due to higher costs on pubs.

For the year to March, Fuller’s saw profits slip from £33.8m to £29.5m. On an adjusted basis, they were up from £27m to £34.6m.

Revenue was up from £376m to £397m. It is perhaps best known for London Pride, a bitter which is served in many pubs not owned by Fuller’s and is hoping for a boost from people celebrating the football World Cup.

In 2006, when England played in the World Cup in Germany, beer was £2.41 a pint. It is now typically more than £5 and much more expensive than that in London.

Fuller’s, which has around 400 pubs with a strong London presence, hopes that the investment it has made in its garden pubs will pay dividends and said advance bookings for the World Cup are strong.

For the year, food sales were up 3.5 per cent, while drink sales up 5.8 per cent.

Mark Crouch, market analyst for investment firm eToro, said: “Fuller’s has raised a glass to another strong year, serving up a set of results that should leave both investors and customers in good spirits.”

Shares in the business rose 54p, 8 per cent, to 710p on hopes of a strong summer.

Investec analyst Roberta Ciaccia said in a note to clients: “The focus on affluent clients and the quality of the estate should continue to pay off in terms of upgrades and the shares re-rating, in our view. Fuller’s remains at a severe discount to historical levels.”