Pubs and live music venues in England will be given a 15% discount on their
business rates bills from April and will not see increases for two years, the
government announced.
It comes after a backlash against November's Budget, which left many facing major
increases in their business rates bills.
The government says that pubs have faced significant pressure as their numbers
have fallen by nearly 7,000 since 2010, a roughly 15% reduction and amongst the
highest across hospitality overall.
The support package will save the average pub an additional £1,650 in 2026/27, it
adds.
Kate Nicholls, Chair of UKHospitality, said:
'We welcome the recognition by the Prime Minister and the Chancellor of the
scale of the challenges facing the hospitality sector. They have listened to
us about the acute cost challenges facing businesses, all of which is
impacting business viability, jobs and consumer prices.
'The rising cost of doing business and business rates increases is a
hospitality-wide problem that needs a hospitality-wide solution. The
government's immediate review of hospitality valuations going forward is
clear recognition of this.
'The devil will be in the detail, but we need to see pace and urgency to
deliver the reform desperately needed to reduce hospitality's tax burden,
drive demand, and protect jobs and growth. We will work with the government
over the next six months to hold their feet to the fire to deliver
this.'
Internet link: HM Treasury