Overview
- Valuation Office Agency chief Jonathan Russell told MPs that about 5,100 pubs—roughly 13%—have seen their rateable value at least double.
- Pubs’ rateable values rose on average by around 32–34%, with the new 2024-based valuations taking effect from April; about 15% of pubs saw decreases.
- The Budget cut the business rates multiplier, phased out the 40% Covid-era discount for retail, leisure and hospitality, and set a £4.3 billion transitional relief fund running to 2029.
- The government is preparing financial support specifically for pubs, with details yet to be confirmed, while resisting extending business-rates help to hotels and restaurants.
- A dispute has emerged over prior awareness as the VOA said it provided sector-level ‘data drops’ before the Budget, while ministers face mounting pressure from industry and figures such as Andy Burnham to broaden relief or undertake wider tax reform.