Greene King: our code exceeds standards

Greene King says its updated code of practice with tenants exceeds the industry standard.

That came in evidence to the Business, Innovation and Skills Committee (BISC), which is monitoring pubco reform. It has also been sent to Government minister Edward Davey.

Greene King's evidence, published on BISC's website today, says its code follows the framework from the British Beer and Pub Association, despite the company having left that group.

"It is our firm belief that the Greene King code and, the way we will deliver it, exceeds the requirements laid out in the UK Pub Industry Framework in January 2010," Greene King said.

The code was put together after a consultation with 574 licensee so its meets their expectations, the company said, and it's written in "a readily accessible and easily understandable style".

Greene King said the commitments include proving licensees with:

· The training they require before they sign an agreement, ensuring licensees have a good level of training prior to running a pub

· A very detailed and transparent shadow profit and loss account created through the new online rent assessment system

· An annual business review to ensure that potential problems are identified, discussed and addressed before they can develop, and similarly for business opportunities

· A guarantee of no rent review throughout the full term of the agreement

· A cap on rent increases to ensure that rent is protected from "extreme volatility" in movement of the Retail Prices Index

· A 24/7 online support package, providing quality reports and materials that covers all aspects of their business

· Preferential rates for purchasing, which offers the best banking rate for credit card machines in the industry

The company added: "We believe and are proud that the Greene King Code meets the exacting standards that our licensees, BIIBAS, the BIS select committee and our own brand values require.

"We are currently conducting extensive training with our business development managers to ensure they are able to deliver and implement what we say in our Code of Practice."

BISC is expected to hold oral hearings involving pubco chiefs and anti-tie campaigners at the start of next year.