Mulholland: pubcos acted like irresponsible banks

By Ewan Turney

- Last updated on GMT

Related tags: Pub companies, Economics, Sovereign state

Mulholland: not a pubco fan
Mulholland: not a pubco fan
Pub companies have acted in a similar irresponsible manner to banks — that’s according to Save the Pub Group chair Greg Mulholland.

The Lib Dem MP tabled an Early Day Motion calling for the Government to implement reform of the pubco model as recommended by the Business, Innovation and Skills Committee.

The EDM, which has support from MPs from all three main political parties, calls for the introduction of a statutory code of practice with an open market rent review.

“The BIS Select Committees final report on Pub Companies has clearly shown that pub companies have failed to self-regulate and so the Government must now legislate in line with the commitment of the last Government to once again free up the pub sector and allow pubs in this country to thrive and succeed once again, which would be hugely beneficial for economic growth,” said Mulholland.

“The market has so clearly failed and the pubs sector has been stifled and it is time to free it up allowing the British pub to thrive once again.

"It is possible to draw parallels with the banks in this country, who have behaved in a similarly irresponsible manner, for example the pub companies overvaluing of their estates and borrowing against it much like the banks speculation and ‘gambling’, which went so wrong.”

Related topics: Legislation

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