Overview
- Treasury insiders say the package, expected within days, is focused on pubs and currently not set to cover hotels, restaurants or live venues.
- Rachel Reeves is resisting calls from industry groups and some colleagues to widen fiscal support, though licensing flexibilities are being explored.
- Business Secretary Peter Kyle said ministers lacked Valuation Office Agency revaluation data at the November budget, with the VOA due to move into HMRC by April.
- UKHospitality warns more than 2,000 venues could shut in 2026 without broader relief, with average pub rates seen rising 76% over three years and hotels 115%.
- Industry leaders are pressing to overhaul pubs’ FMT-based valuations and to increase the 5p-in-the-pound discount up to the 20p legal maximum alongside existing £4.3bn transitional support.