Chancellor Rachel Reeves indicated the government is considering broader business rates support for the hospitality sector, going beyond previously promised assistance for pub owners. This comes as hospitality businesses face the end of Covid-era business rates relief in April, coinciding with significant increases in the rateable value of their premises.
Speaking at a press conference, Reeves stated she was "working with the hospitality sector," a shift from earlier hints that she was resisting calls for more support for businesses beyond pubs. Treasury officials confirmed to the BBC that a package specifically aimed at helping pubs would be announced "in the coming days," but also did not rule out additional relief for the wider sector.
The potential support is being considered against a backdrop of rising business rates and the expiration of Covid-related relief, factors that could significantly impact the financial health of hospitality businesses. The hospitality sector, encompassing pubs, restaurants, hotels, and other related businesses, plays a crucial role in the economy, providing employment and contributing to local communities. Financial strain on these businesses could lead to job losses and reduced economic activity.
Opposition MPs and industry bodies have been advocating for any additional help to be extended to all businesses within the hospitality sector, including hotels and restaurants. These groups argue that all hospitality businesses face similar challenges and require support to ensure their survival and continued contribution to the economy.
The Treasury is expected to announce a package of support for pubs in the coming days, with the possibility of further relief for the broader hospitality sector remaining open. The specific details and scope of any additional support are yet to be determined.
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