Reeves hints new pub support will not be extended to other businesses
Rachel Reeves insisted pubs faced a “far different” situation from other businesses such as hotels, restaurants and cafes as she appeared at the World Economic Forum in Davos, according to the Times.Earlier this month, the Treasury indicated pubs would be given extra financial support amid changes in business rates announced at the budget in November.Other high street businesses have lobbied for such support to be extended to help them weather the changing tax situation.Read more: Pubs will get the support they need, vows Keir StarmerBut speaking to the Times on the fringes of the World Economic Forum, the Chancellor signalled the Government’s plans remained targeted at pubs.“I do recognise the particular challenge that pubs face at the moment, and so I’ve been working with the sector over the last few weeks to make sure that the right support is in place and we’ll be announcing something in the next few days,” she said.Ms Reeves later added: “I think the situation pubs face is different from other parts of the hospitality sector. We’ve just been using this time to get the package right. We’ll be setting out details in the next few days.”At the budget, Ms Reeves announced a Covid-era business rates relief package for pubs would end in April.A business rates revaluation is also due to come into effect that month, which is expected to push up rates.To help pubs transition away from the Covid-era support, and deal with the increased rates, the Chancellor announced £4.3 billion support at the budget, a “transitional support package”, lasting until 2029.A sustained campaign by pubs saw Labour MPs banned from their local boozers across the country, as they warned the business rates relief was not enough, and that it would lead to closures.The Conservatives, Reform UK, and newspapers also campaigned against the move.In early January, the Treasury indicated a U-turn was coming on the budget measures, and that more support would be available for pubs “in the coming days”.Pharmacies, hotels, cafes and others were among the businesses which called for the support to be extended.
