"The government is expected to announce a partial U-turn on looming business rates increases for pubs within days, amid growing alarm over the financial pressure facing the hospitality sector. Ministers are preparing a targeted rescue package that would shield pubs from steep hikes triggered by business rates revaluations and the withdrawal of Covid-era reliefs. However, the move is understood to apply only to pubs, leaving other hospitality businesses such as hotels, restaurants and leisure venues exposed to potentially severe cost increases."
"The development follows warnings that some hospitality venues face business rates bills rising by more than 100 per cent over the coming years, as temporary pandemic support unwinds and rateable values are reassessed. Sky News' deputy political editor Sam Coates said there was growing unease inside government about the scale of the impact. He reported that colleagues of Rachel Reeves were "not happy" about the situation, as pressure mounts from MPs and industry figures concerned about closures, job losses and declining high streets."
The government is expected to announce a partial U-turn on looming business rates increases for pubs within days amid growing alarm over financial pressure on the hospitality sector. Ministers are preparing a targeted rescue package that would shield pubs from steep hikes triggered by business rates revaluations and the withdrawal of Covid-era reliefs. The measure would apply only to pubs, leaving hotels, restaurants and leisure venues exposed to potential cost increases. Some hospitality venues face business rates bills rising by more than 100 percent as pandemic support unwinds and rateable values are reassessed. Pubs, restaurants and hotels remain highly exposed due to reliance on physical premises, high energy usage and labour-intensive operations, compounded by rising wages, higher employer national insurance contributions and subdued consumer demand.
Read at Business Matters
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