Simon JackBBC Business EditorGetty ImagesThe government is poised to announce a U-turn on forthcoming increases to the business rates bill faced by pubs.It is expected that the government will reduce the so called “multiplier” – the percentage of a pub’s rateable value used to calculate business rates bills.Treasury officials say they have recognised the financial difficulties facing many pubs after sharp rises in the rateable value of their premises.The move follows pressure from landlords and industry groups that included more than 1,000 pubs banning Labour MPs from their premises.A 5p cut in the percentage of premises value that business pay each year announced at the Budget was more than offset for many by an upward revision of the rateable value of the premises, leading to an average rates rise of 76% for pubs and 115% for hotels over the next three years.Unpicking the recent Budget would be seen by many as another U-turn following climbdowns on winter fuel payments, disability benefits and inheritance tax on farms and family businesses.
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Government to U-turn over business rates for pubs
