Starting in April next year, pubs, bars, clubs and live music venues will pay 20% less in business rates under a new measure announced by the British government.
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Authorities estimate that around 32,000 hospitality businesses will benefit from the reduction. An average pub is expected to save approximately £1,100 a year, while the scheme will cost the state budget around £100 million annually.
The initiative will be funded by reviewing tax relief granted to certain activities deemed “anti-social,” including vape shops. The government also announced tighter checks on businesses that sell products through online platforms while avoiding their tax obligations.
Prime Minister Andy Burnham said the support would focus on businesses that play an important role in their communities.
“I promised that I would protect pubs and high streets, which are at the heart of our communities. This is only the beginning of the measures we will take,” he said.
The measure was announced as a large number of hospitality businesses complain of significant increases in costs. They say operating costs have been driven up by higher employer social security contributions, as well as the increase in the minimum wage.
