Key events
Burnham to cut business rates for pubs, clubs and live music by ۲۰%
Andy Burnham has cut business rates for pubs, clubs and live music venues by ۲۰%, in the latest example of a flurry of policies since taking over as prime minister.
The cuts will cost about £۱۰۰m a year, but will be partly funded by reviewing reliefs for “anti-social businesses”, with vape shops in particular singled out. ۱۰ Downing Street said it will look at businesses that “do not make a positive contribution to local communities”.
The cut would save the typical pub an estimated £۱,۱۰۰ next year. ۳۲,۰۰۰ businesses will qualify – although the largest music venues will not benefit, with details due in the budget.
The government will also look at raising more tax from “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”. That could include more measures for online marketplaces who host sellers, Downing Street said.
Burnham has previously pledged to raise taxes on out-of-town warehouses for online companies such as Amazon to help pay for cuts to rates for hospitality firms.
Michael Kill, chief executive of the Night Time Industries Association, a lobby group, said the tax cut would provide “meaningful relief”. He said:
Having worked closely with the new Prime Minister’s team over recent weeks, it is encouraging to see a positive outcome from genuine engagement with the sector. The inclusion of clubs alongside pubs and live-music venues is particularly important and demonstrates a broader recognition of the vital economic, cultural and social contribution made by the night-time economy.
This is the third major policy announcement in as many days from the new government. Together, these interventions have undoubtedly begun to shift confidence across the sector and created renewed optimism that our concerns are being heard.
Burnham said:
For too long, governments have stood by while cherished venues have disappeared from our local high streets. So today I am changing that.
This government will back the businesses that people want to see in their communities. I said I would protect pubs and local high streets – the beating heart of our communities – and that’s what we will do. What we’re announcing today is just the start as we work to bring back hope across the country.
The agenda
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۱۱am BST: UK Confederation of British Industries industrial trends orders (July; previous: -۴۵; consensus: -۴۰)
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۱:۱۵pm BST: European Central Bank interest rate decision (consensus: no change)
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۱:۴۵pm BST: European Central Bank press conference
