Interesting debate from the House of Lords on the UK Budget on the B.B.C.
Lord Karan Billimoria, head of Cobra Beer which he owns in partnership with Mills and Coors, said there is an alarming number of pub closures each week in the U.K., little helped by the high duty on beer.
Of course binge drinking needs to be checked, it helps reduce demand on the NHS resources, but drinking legislation and taxation should be such that publicans can find it profitable to operate. It is an industry dying on its feet, in my view, and very much in need of a revival.
Lord Billimoria suggested that the Credit Easing of £20 billion earmarked for SMEs is in need of better publicity. Most people are not even aware of it, which banks are participating, what is the criteria, etc.
If the government department concerned could take a more pro-active approach in lending arrangements for Small and Medium sized Enterprises, it would bear rich dividends in regenerating manufacturing and distribution, bring to life the many empty warehouses, offices and factories, and breathe life into local communities. Very much what has started to happen in the United States.
There has to be more dynamism in helping Entrepreneurs to get that initial lift in U.K.
The amount and quality of talent which is lying dormant will bear rich rewards in creation of jobs and wealth if the government could actually address this issue.