RICS denies "intimidation" over new pub rents code

The Royal Institution of Chartered Surveyors (RICS) hopes to have its new code of practice for pub rents in place by next spring and has denied it has faced "threats" and "intimidation" over its contents, MPs have been told.

David Rusholme, director of RICS' valuation group, told the re-opened parliamentary inquiry into pubco power today there had been a "healthy debate" about its new code.

But he rejected claims from MP Lindsay Hoyle there had been "threats" and "intimidation" from the groups that give his members work.

"I don't deny there's been a healthy debate, but we will not be bound by the influence of one party," Rusholme told the Business, Innovation and Skills (BIS) committee.

He later said RICS' code would be "free-standing" and he was "optimistic" that all parties would abide by it.

He added: "If we can carry everyone along with the process there's a good chance that everyone adheres to it."

However, there were concerns raised that the code may overlap with the British Beer & Pub Association's code.

On the controversial issue of the "tied tenant being no worse off than the free-of-tie licensee", Rusholme said he "wholeheartedly" agreed this should be the case.

He said: "We are well aware of the controversy surrounding this and that's one of the areas where our guidance needs to be clearer."

Rusholme also admitted the recent Brooker High Court rent case had been "significant".

Earlier BIS chairman Peter Luff told the committee he had received a letter from Labour minister Kevin Brennan saying it was "too early" to make a decision on whether the government would intervene in the industry.

Luff added: "The option of intervention remains very much on the table."