Sacha Lord welcomes breathing space over rates change

Sacha Lord

The 75% discount for retail, hospitality, and leisure businesses, introduced in the wake of the pandemic, will be extended despite Hunt initially hinting that it was “not possible to continue with temporary support measures forever”.

Businesses can now claim relief of up to £110,000, saving the average bar, pub or club about £12,800 a year.

He said the £4.3b tax cut recognises “the role of pubs and high street shops in our communities”. Hunt also froze the small business multiplier for a further year, however the standard business multiplier will increase by 6.4%.

Sacha Lord, Night Time Economy Adviser for Greater Manchester, said the entire removal of the business rate relief would have left hospitality venues facing unsustainable average hikes of over £12,000 from April and would have created a shock to the sector that would have been difficult to stabilise.