The 20% business rates cut for pubs, clubs, and live music venues, announced in July by the new Prime Minister Andy Burnham is part of a series of measures to support the backbone of local high streets.
Prime Minister Andy Burnham has also vowed to cut costs for working people and communities, including electricity bill VAT relief and £2 bus fare cap, to build an economy that works for every postcode.
MK’s MPs Callum Anderson, Emily Darlington and Chris Curtis said: “For too long, the pubs, social clubs, and live music venues that form the backbone of local high streets have been replaced by boarded up windows and for sale signs.
“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 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.
Emily Darlington MP said: “I’m thrilled to see this commitment from our Labour Government to supporting our hospitality and nightlife industry! Milton Keynes has incredible grassroots venues and local pubs which form an integral part of our city’s culture – from the Stables to The Station Tavern. Our music venues and pubs are the glue that sticks communities together, a place to spend time with loved ones and meet new people. I’m looking forward to seeing local businesses across MK benefit from this cut to business rates.”