Pubs and small businesses will receive extra help with their business rates bill, the chancellor has announced.
Every pub with a rateable value of less than £100,000 will receive a discount of £1,000 in 2017, a move that affects 90% of all pubs, Chancellor Philip Hammond said.
Also, small businesses set to lose their rate relief in the planned revamp will see increases capped at £50 a month. Overall, the extra relief will cost the government £435m, the chancellor said.
East Yorkshire MP Sir Greg Knight, who has campaigned on behalf of pubs, today welcomed the move. “This much-needed help will save the pub sector approximately £24m and will help to safeguard future investment and jobs”, he said.