The Tories need to engage with the trade, and quickly

To quote the legends that were Derek and Clive, if I ran pubs - managed, leased, tenanted or as an independent operator - right now I would be sore afraid.

My fear wouldn't stem from whether the Office of Fair Trading might refer the sector to the Competition Commission. Nor would it be the sort of cold sweat induced by what Europe's bureaucrats might do to the pint measure. No, my worry would be the Tories winning the looming general election and Tobias Ellwood becoming licensing minister.

Not that I have anything against the shadow minister for culture, media and sport personally. My concern revolves around his apparent ignorance of the pub trade and its workings.

Most of those who, like me, witnessed the Bournemouth East MP's performance at a recent trade body get-together in Birmingham were left in a state of near despair.

He seemed unable to grasp that such a beleaguered trade wanted a wannabe minister to show some vision and political will to assist a sector that contributes so much to the UK's culture and economy. What we got instead sounded to me closer to a warning to what is, by and large, a responsible industry to smarten up its act.

Many - though not all - in the pub game are looking to the Tories as potential saviours. If they are indeed to be the industry's 'white knight' then they - and their licensing minister-in-waiting - need to engage more constructively with those running the UK's pubs. Starting from now.

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Moodys' rather downbeat assessment of Enterprise Inns and Punch Taverns' debt profiles was only bettered - if that's the right word - by a withering comment from one of the latter's own investors. Investment bank Schroders has called for the pubco to be wound up and the proceeds distributed to shareholders. Ouch.