Pubs to benefit from government's business rates cut
Pub owners are expected to pull a celebratory pint today after the Chancellor announced he would be slashing their bills by £1,000.
In the government's latest support for local high streets, Sajid Javid confirmed the new Pubs Relief would be introduced in April, with £1,000 being taken off the business rates bills of small pubs who qualify.
"These will mean lower rates for the small independent shops, cafes and locals at the heart of our communities, as well as for the local papers that are a vital pillar in local democracy," said Mr Javid.
As many as 18,000 pubs are expected to benefit from the discount.
The relief will come on top of an extended retail discount, which smaller pubs are also eligible for. Those eligible for both reliefs will get up to £13,500 off their annual bills.
The Pubs Relief is part of a package of measures that is being introduced by the government to support local high streets.
Also from April this year, small shops and cafes will see their bills halved as the retail discount, currently a third off, is extended to 50%; music venues and cinemas will become eligible for the retail discount; and a £1,500 discount for local newspapers office space will be extended for a further five years.
The government has also said it is committed to launching a fundamental review of business rates. Further details are expected to be announced in due course.