Night-time Economy: Business Rates
The question
To ask the Chancellor of the Exchequer, what assessment he has made of the potential impact of business rates policy on the night-time economy.
Answered by Treasury
Earlier this year, the Government cut every pub and live music venue's bill by 15 per cent and ensured bills will be frozen in real terms for a further two years.
The Government is now going further by introducing an additional 20 per cent cut for pubs, social clubs, and all but the very largest live music venues, building on the support already in place.
When taken together, these packages are worth nearly £250 million next year and will benefit around 32,000 pubs, social clubs and live music venues.
Businesses considered as part of the night-time economy may be eligible for the new permanently lower multipliers for eligible RHL properties. These provide nearly £1 billion per year of support to the RHL sector and benefit over 750,000 properties.
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