Continuing his drive to build an economy that works for every postcode, the Prime Minister has taken action to cut business rates bills for pubs, social clubs and live music venues across Portsmouth from April next year.
- Pubs, clubs and live music venues in Portsmouth set to receive a 20% cut to their business rates bills saving the typical pub an estimated £1,100 next year
- Local Labour MP Amanda Martin welcomes boost for local businesses
- Measures to support the backbone of local high streets, including through reviewing reliefs provided to anti-social businesses, such as vape shops
- Forms part of a series of measures to cut costs for working people and communities, including electricity bill VAT relief and £2 bus fare cap
For too long, the pubs, social clubs, and live music venues that form the backbone of local high streets have been replaced by boarded up windows and for sale signs.
Today’s announcement forms part of the Labour Government’s wider plan to drive good growth in every postcode by reducing the burden on local businesses, boosting investment on high streets and helping communities to thrive.
Nationally, new business rate cuts will benefit nearly 32,000 pubs, clubs and live music venues, saving the typical pub an estimated £1,100 in the next financial year, providing much-needed certainty for businesses looking to invest, grow and create jobs.
Today’s changes will be fully funded, including through reviewing reliefs for businesses that do not make a positive contribution to local communities, such as vape shops.
The Government will also crack down on 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.
The Government is consulting on measures to make online marketplaces more responsible for preventing non-compliant sellers from avoiding their tax obligations and further detail will be set out in due course. Revenue raised from these reforms will be reinvested in improvements to the business rates system.
Prime Minister Andy 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.”
Local Labour MP Amanda Martin said: “Portsmouth’s pubs are at the heart of our local economy and community life. They create jobs, bring people together and make our city vibrant.
“From my regular meetings and roundtables with the sector, I know the real and longstanding challenges pubs and hospitality businesses have faced. That’s why I’ve been taking action to support and protect our city’s small and independent businesses.
“I’m so pleased with today’s announcement, which will help ensure our local pubs can continue to thrive and play such an important role in our communities.”
Chancellor of the Exchequer John Healey said: “Pubs, clubs and live music venues are at the heart of communities across the UK. They help make a place what we love. They bring people together, support local jobs and help keep high streets and town centres busy — which is why we will back them all the way.
“We are determined to bring hope back, give businesses the support they need and generate growth in every postcode.”
This is just one step of the Government’s plans to back our communities and high streets and we will return to our commitment to reform the wider business rates system, including Small Business Rates Relief, at the Budget.
