Summary
The UK government announced a 15% discount on business rates for pubs and music venues in England, starting in April, with no increases for two years. This decision follows backlash from an earlier budget that would have raised costs significantly for these businesses. The government stated this package aims to provide short-term relief, while a review of how pubs are valued will occur before 2029.
Key Facts
- Pubs and music venues in England receive a 15% discount on business rates from April.
- There will be no increase in these rates for two years.
- The package is valued at £1,650 for the average pub.
- The government says the plan will cost £80 million in its first year.
- Treasury Minister Dan Tomlinson emphasized pubs are vital to communities.
- Shadow Chancellor Mel Stride called the measures insufficient.
- The government will review how pubs are valued before the 2029 revaluation.
- UK Hospitality and the British Beer and Pub Association support the initiatives but call for further long-term reforms.
