Landlord of renowned Peterborough pub warns of financial battle after business rates hike

The alarm has been sounded by Nigel Cook, landlord of the Ruddy Duck, in Peakirk, who says a new review of the rateable value of his premises has led to a 220 per cent increase.

The rateable value has risen from £5,000 in 2024 to £16,000 this year.

Mr Cook says it will mean the rise in rateable value will mean a hike in the business rates he has to pay although the exact amount has not yet been finalised by Peterborough City Council.

He says that the business rates rise coming on top of two increases in the National Living Wage, an increase in employer’s national insurance and a four per cent rise in alcohol duty next month will leave the business struggling to make ends meet.

Mr Cook said: “It will be a real test for the business.

"But we’re not alone - all independent pubs like us are stretched to the limit.

"We can’t pass the increase on to our customers as their disposable incomes are being squeezed and they’ll end up not coming into the pub.

Mr Cook said: “I think the Government is going to have do a u-turn on this

Alongside the new rateable values of business properties, there is also the ending of the Covid-era business rates relief in April, announced by Chancellor Rachel Reeves in the November budget.

Mr Cook added: “I have written to our MP Sam Carling about this and I’ve warned him he is barred from the pub unless he says something in the House of Commons to help the hospitality industry.

North West Cambridgeshire MP Sam Carling said: “Mr Cook, the landlord at the Ruddy Duck, has been in touch with me to express frustrations about business rates.

"Due to inflation and many other issues, the rateable value of businesses has increased since valuations last took place in 2023.

"The Ruddy Duck should previously have been paying no business rates at all once reliefs are taken into account given the previous rateable value.

“The Government has announced support for small businesses this year, meaning that the Ruddy Duck’s bill increase will be limited to £800, which works out at an increase of £66 per month.

"I recognise that costs for small businesses and pubs add up, but given that inflation has taken place in the last three years, £66 per month I hope is a manageable figure for a pub as popular as the Ruddy Duck.

"This figure will go straight into supporting our public services, including the NHS – meaning people get quicker medical treatment and lots of small businesses will benefit from healthier staff.

"We have actually lowered business rates for hospitality properties worth less than £500,000, so this increase is due to the pub’s rateable value increasing.

Mr Carling added: “I am of course happy to discuss these issues further with Mr Cook, as well as what else we’re doing to support pubs – such as the cut we brought in the 2024 budget to alcohol duty on draught products, and the further measures announced in the Small Business Plan to support the hospitality sector and revitalise high streets.”