High street shops, pharmacies, and music venues are urging Chancellor Rachel Reeves to extend a planned reversal of business rate increases to include them, alongside pubs. The government is anticipated to announce a backtrack on impending business rate hikes for pubs in England in the coming days, following strong criticism from landlords and pub owners, including a ban on Labour MPs from over 1,000 pubs.
Lobby groups and backbench MPs are advocating for a broader relief package, arguing that many businesses will struggle to afford the higher bills. In the November Budget, Reeves reduced business rate discounts, which had been in effect since the pandemic, from 75% to 40% and announced the complete removal of the discount from April. This change, coupled with significant upward adjustments to the rateable values of pub premises, has left landlords facing substantially higher bills.
The BBC reports that the anticipated climbdown will be limited to pubs and will not encompass the entire hospitality sector. The British Independent Retailers Association (Bira) has questioned the rationale behind excluding its members, which include a wide range of independent retailers, from the relief. These retailers, similar to pubs, are facing increased operating costs and pressures from online competition. The reduced discount from 75% to 40% already represents a significant financial burden for many businesses, and the complete removal threatens their viability.
The current business rates system is based on the rateable value of a property, which is an estimate of its open market rental value. These values are reassessed periodically, and the recent upward adjustments have disproportionately affected businesses in certain sectors. The calls for broader relief highlight the growing concerns about the impact of business rates on the high street and the need for a more equitable system. The government has yet to respond to the calls for an extension of the relief, but the pressure from various business groups and MPs is likely to intensify in the coming weeks.
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