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To ask the Chancellor of the Exchequer, whether rehearsal studios and music sound equipment hire companies are classed as part of the leisure and hospitality sector for the purposes of receiving a business rates holiday; and what plans he has for those companies to receive support in line with the support available to pubs and live music events.
The Government has provided enhanced support to the retail, hospitality and leisure sectors through business rates relief given the direct and acute impacts of the COVID-19 pandemic on those sectors. The Ministry of Housing, Communities and Local Government has published guidance for local authorities on eligible properties.
A range of further measures to support all businesses, including those not eligible for the business rates holiday, has also been made available. For example, the Government has launched the Coronavirus Job Retention Scheme to help firms keep people in employment, the Coronavirus Business Interruption Loan Scheme offering loans of up to £5 million for SMEs through the British Business Bank, and is deferring VAT payments for this quarter.
The Government will consider any further financial assistance necessary to help businesses get through this period.