Burnham means business: PM to slash business rates bills for pubs, clubs and live music venues in Oxford
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Pubs, clubs and live music venues in Oxford set to receive a 20% cut to their business rates bills, saving the typical pub an estimated £1,100 next year
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Local Labour MP Anneliese Dodds welcomes boost for local businesses
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Government will also review reliefs provided to vape shops and similar businesses
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Forms part of a series of measures to cut costs for working people and communities, including electricity bill VAT relief
Today’s 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.
For too long, pubs, social clubs, and live music venues that form the backbone of local high streets have been under pressure. These 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.
Today’s changes will be fully funded, including through reviewing reliefs for businesses like 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. Revenue raised from these reforms will be reinvested in improvements to the business rates system.
Local Labour MP Anneliese Dodds said:
“Over recent years, for a variety of reasons, we have seen the loss of important venues from Oxford like the Wheatsheaf and Cellar, and the closure of a number of pubs. Today’s measures will help ensure the continued survival of local businesses like pubs and clubs which bring people together as well as generating jobs. “
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.”