Summary
The government, under Chancellor Rachel Reeves, is considering extending support to hospitality businesses affected by rising business rates. While support focused on pubs is already planned, there may also be additional help for other hospitality sectors like hotels and restaurants. The end of Covid-era relief in April will lead to increased rates, and businesses are expressing concern over these costs.
Key Facts
- The government is looking at ways to help the hospitality sector with rising business rates.
- Covid-era business rates relief is ending in April.
- Currently, additional support is confirmed for pubs facing rate increases.
- Other hospitality businesses, such as hotels and restaurants, might also receive support.
- The Treasury promised to announce specific help for pubs soon.
- Businesses are worried about higher rates once Covid-related relief stops.
- There is a potential for rate increases of up to 115% for hotels over the next three years.
- Smaller businesses, such as some cafes, may not pay business rates if they are small enough.
