Newly Appointed UK Prime Minister Andy Burnham Announces Business Rate Cuts for Clubs and Venues
The cut will take effect in 2027
Andy Burnham, who was just sworn in as Prime Minister of the UK on Monday (July 20), has immediately established his support for the arts. As one of his first acts, he instituted a 20% cut to business rates for pubs, venues, and clubs, beginning next year.
The numbers:
The average pub will save “around £1,100” in the 2027-28 financial year.
Nearly 32,000 businesses will benefit.
This move is part of a £100 million annual support package.
Earlier this year, a similar 15% relief was introduced.
How it works:
Specific criteria delineating which venues will benefit are expected in the UK’s annual Autumn Budget plan.
The government said the cuts will be funded in part by increasing rates on vape shops and other businesses that “don't contribute positively to local communities.”
Another part of the funding will come from enforcing non-compliance measures upon online marketplace sellers.
What they said:
Burnham: "For too long, governments have stood by while cherished venues have disappeared from our local high streets. So today I'm changing that."
👋 Disclosures & Transparency Block
This article was written with information sourced from Resident Advisor.
We covered it because the UK is a major live music market.
