IoD press release Government support for pubs welcome, but business rates system still needs reform
Responding to the UK Government’s announcement of targeted business rates relief and support measures for British pubs, Anna Leach, Chief Economist at the Institute of Directors, said:
“The Institute of Directors welcomes today’s decision by the Government to provide targeted business rates relief for pubs, recognising the intense pressures facing this sector. This support will offer much-needed breathing space for businesses grappling with rising costs and tight margins.
“More broadly, the business rates system remains in urgent need of reform to address the disincentives to investment embedded in the current framework, and we welcome the Government’s commitment to take action in this area.
“That said, stronger policy design at an earlier stage would deliver greater benefits for business confidence, planning and costs. We reiterate our call for more detailed, sector-by-sector analysis of the impacts of tax changes to be undertaken alongside each Budget. This would allow concerns to surface earlier in the process, enabling risks to be identified and addressed before they crystallise.”
