Pubs, clubs and live music venues will receive a 20% cut to their business rates bills from April under Andy Burnham’s plans to support local high streets.
The move will be fully funded including through reviewing reliefs for businesses that don’t make a positive contribution to communities, such as vape shops.
It is the third early morning announcement from the new PM following cuts to electricity prices and a £2 bus fare cap
The move says the Government will save the typical pub an estimated £1,100 in the next financial year, providing much-needed certainty for businesses looking to invest, grow and create jobs
The Government will also crack down on businesses that sell through online marketplaces but do not comply with their tax obligations, putting them at an unfair advantage over businesses that play by the rules.
The Government is consulting on measures to make online marketplaces more responsible for preventing non-compliant sellers from avoiding their tax obligations and further detail will be set out in due course. Revenue raised from these reforms will be reinvested in improvements to the business rates system.
