Treasury minister confirms business rates cut for pubs and music venues

Evening Standard

Treasury minister Dan Tomlinson said the property tax bills for pubs and music venues in England will be reduced by 15% in 2026/27 and then be “frozen in real terms” for the next two years.He added that the support will be worth £1,650 for the average pub next year.Mr Tomlinson said: “This decision will mean that the amount of business rates paid by the pub sector as a whole will be lower in 2028/29.“It will also apply to music venues too. Many are valued as pubs and it would not be right to draw the line.”The Treasury’s intervention comes after an intensifying backlash from industry bosses and MPs over impending tax increases.

Transcript

00:00We are stepping in to provide support for pubs in the next three years.

00:06Today, I can confirm that from April, every pub in England will get 15% off its new business rates bill

00:15on top of the support announced at budget.

00:18Pub's bills will then be frozen in real terms for a further two years.

00:23This support is worth £1,650 for the average pub just next year

00:29and will mean that around three quarters of pubs will see their bills either fall or stay the same next year.

00:37Then bills will be frozen in real terms for the next two years.

00:42This decision will mean that the amount of business rates paid by the pub sector as a whole

00:48will be lower in 2028-29 than it is today.

00:53This week is also Independent Venue Week, so it is particularly appropriate that I can announce also

00:58that our package will apply to music venues too.

01:03Many live music venues are valued as pubs and many pubs are grassroots live music venues.

01:09It would not be right to seek to draw the line so tightly so as to include some and not others.

Category

Transcript

Comments

Recommended