- 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
- 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
Stephen Morgan MP has welcomed the Prime Minister’s announcement that the Government will be cutting business rates bills for pubs, social clubs and live music venues across Portsmouth from April of next year.
This 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.
These business rate 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.
Additionally, 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.
This announcement follows a wide range of actions by the city MP alongside Amanda Martin MP, including meeting with local businesses and bringing representatives of Portsmouth’s hospitality sector to Parliament to meet directly with the Hospitality Minister.
This can be read about in further detail here.
Commenting, Stephen Morgan, MP for Portsmouth South, said:
“By slashing business rates, Labour will be giving Portsmouth’s local pubs, clubs and live music venues the security that they need, protecting valued local establishments. I am pleased to see the Government already acting on the concerns shared by representatives from our local hospitality earlier this year.
“Unfortunately, recent years have seen some of businesses that form the backbone of this city’s high streets being replaced by boarded up windows and for sale signs as a result of neglect of the sector by the Tories.
“That is why this Government remains committed to supporting these venues, allowing them to continue to bring people together, support jobs and help keep high streets and town centres busy.”
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.”
