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Almost 300 pubs closed last year ahead of cost rises

The article from MSN Money discusses the closure of nearly 300 pubs in the UK in the previous year, with fears that more might shut down due to escalating costs. The British Beer and Pub Association (BBPA) reported that 283 pubs closed in 2023, a decrease from the 386 closures in 2022, but the industry remains under threat. Rising energy bills, increased costs for goods, and a significant business rates hike are among the financial pressures pubs are facing. The BBPA has called for government intervention, including a reduction in beer duty and a reform of business rates, to help pubs survive. The article highlights the cultural and economic importance of pubs, noting their role in community cohesion and their contribution to the UK economy, while also mentioning the potential for further closures if the financial burdens continue to mount.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/other/almost-300-pubs-closed-last-year-ahead-of-cost-rises/ar-AA1zaELe ]