Shadow Chancellor pledges to abolish business rates – our response

Kate Nicholls, Chair of UKHospitality, said: “The business rates system is completely broken, with hospitality paying billions more than its fair share for decades.

“This is welcome recognition from the Shadow Chancellor of the need to reform the business rates system, as well as the need to prioritise and back our high streets to drive growth, attract investment and support our communities.

“Reducing the tax burden on hospitality is urgent, and that needs to start at the Budget with the maximum possible business rates discount applied to all hospitality properties under £500,000 rateable value.

“This maximum discount should be implemented alongside a zero-rate surcharge for venues above £500,000 rateable value.

“Hospitality businesses are being taxed out, with 84,000 job losses since the cost increases in the last Budget. The November Budget needs to lower business rates, fix NICs and cut VAT.”