Pubs and music venues to see business rates cut by 15%, says Treasury

Danni Hewson, head of financial analysis at AJ Bell, said: “For the pubs sector there was reason to pop the cork after the government delivered details of its business rates U-turn.

“A cut of 15 per cent and a freeze on the amount they pay for two years will be welcomed by many who’d been agonising over upcoming bills and considering whether it might be better to call time.

“However, it doesn’t give the industry the long-term certainty needed to stoke investment.

“The inclusion of music venues will be seen as positive, but the government seems to have created a two-tier system, leaving the restaurants next door unsupported and high streets vulnerable.

“Promises of another high street strategy are only worth something if they deliver more than just blueprints with no way of ever getting off the table.

“Ultimately, the complex web of taxation with carve-outs and caveats must be simplified and work in tandem with other increased costs heaped on businesses, such as increases to employer NI and the minimum wage.”