Business rates reform not delivered in full, with only a quarter of maximum discount offered.
Our response
Kate Nicholls, Chair of UKHospitality, said: “Bricks and mortar hospitality businesses are being taxed out, and they have been penalised by the broken business rates system for far too long.
“Today the Chancellor recognised the importance of hospitality and provided a permanently lower multiplier for hospitality businesses – reforms secured by UKHospitality.
“However, the 5p discount is only a quarter of the maximum 20p discount the Government proposed last year.
“This is particularly frustrating given changes to business rates valuations will mean that many hospitality businesses’ tax bills will still significantly rise, alongside increases to the minimum wage adding extra cost. Business tax rates for hospitality must continue to fall for the rest of this parliament.
“The Government has heeded our calls for significant transitional relief for businesses, which will mitigate the worst impacts of the revaluation.
“Hospitality remains under significant cost pressures, with the highest tax burden in the economy. We will continue to campaign for additional support for the sector, including further business rates discounts.”