Summary
Nearly 50 Labour MPs have written to Chancellor Rachel Reeves to ask for the planned rise in business rates for music venues to be stopped. The MPs argue that the proposed rate increase could significantly raise costs for these venues, putting them at risk. The concern comes as the government plans to reduce business rate discounts and potentially exclude music venues from a support package for the hospitality industry.
Key Facts
- Labour MPs wrote to Chancellor Rachel Reeves about business rates for music venues.
- The rate increase could raise music venue bills by 45% to 275%.
- Music venues are considered at risk due to higher costs.
- The government plans to reduce business rate discounts from April.
- MPs are worried the hospitality sector might not get enough support.
- The letter pressing for action was coordinated by MP Anneliese Midgeley.
- MPs seek to stop the April increase until a better valuation method is found.
- The Treasury has not yet commented on the matter.
