Andy Burnham has announced that pubs, clubs and music venues in England will get a 20% cut in business rates next year, according to NME. The change is expected to cost around £100 million.
Burnham said the reduction will be funded by reviewing tax reliefs for businesses such as vape shops and by increasing taxes on companies that, in his words, do not make a positive contribution to local communities. He also said the government wants to crack down on businesses selling through online marketplaces if they are not meeting tax obligations.
The policy is expected to save a typical UK pub about £1,100 a year, with around 32,000 other businesses also benefiting. The measure will apply to most live music spaces, though not to the largest music venues.
Music Venue Trust CEO Mark Davyd welcomed the announcement and called it an encouraging first step for the live music sector. Night Time Industries Association chief executive Michael Kill also described the move as significant and welcome, while saying more details are still expected at the autumn Budget.
