finance

Budget 2021 latest: Rishi Sunak speech reaction and what cigarette, alcohol, minimum wage & pension changes mean for YOU


Boost for retail and hospitality businesses

Some business owners will see their rates halved in a measure announced today.

A 50% business rate discount will be given to businesses in the retail, hospitality and leisure sectors.

These are the industries which were hardest hit by the Covid pandemic, with many forced to shut their doors for months.

Pubs, music venues, cinemas, restaurants, hotels, theatres and gyms will all be handed the lifeline.

Eligible businesses will be able to claim a discount on their bills of 50%, up to a maximum of £110,000.

Mr Sunak said that this move, together with Small Business Rates Relief, will mean more than 90% of businesses in these industries will enjoy a discount of at least 50%.





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