Treasury written question – answered at on 12 December 2024.
Stuart Andrew
Assistant Whip, Shadow Secretary of State for Culture, Media and Sport
To ask the Chancellor of the exchequer, if she will make an assessment of the potential impact of forthcoming changes to business rate relief on the viability of grassroots music venues.
James Murray
The Exchequer Secretary
At the Autumn Budget, the Government announced that retail, hospitality and leisure (RHL) properties will receive 40% relief (up to a cash cap of £110,000 per business) for 2025-26. Under the plans we inherited from the previous government, RHL relief would have ended entirely in April 2025.
The Culture, Media and Sport Committee’s report on grassroots music venues recommended that RHL relief should not be wholly withdrawn in April 2025.
The Committee’s report also highlighted the sector's desire for certainty and long-term stability. The government has also announced its intention to introduce permanently lower tax rates for RHL properties with rateable values below £500,000 from 2026-27.
The Government’s full response to this report was published on 14th of November and is available online: https://committees.parliament.uk/work/8227/grassroots-music-venues/publications/.
Yes2 people think so
No1 person thinks not
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The chancellor's plans for the economy are delivered to the House of Commons every year in the Budget speech.
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