Pubs and live music venues to get support after business rates backlash, Treasury confirms

Following backlash over planned business rate changes, the UK Treasury announced a support package for pubs and live music venues in England and Wales. The package, worth nearly £100 million, aims to mitigate the financial impact of the changes, which trade bodies feared would cause closures and job losses. Starting April 1st, every pub will receive a 15% discount on their new business rates bill, averaging £1,650, and rates will be frozen in real terms for two years. The government will also review the methodology for calculating pub rates and reform licensing rules. While the support is welcomed, the shadow chancellor criticized it as a temporary fix, and the government has not reduced VAT on alcoholic beverages.

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