Labour has finally confirmed a support package of business rate relief for pubs, as the hospitality industry weathers a storm of rising operating costs and declining footfall.
Every pub in England will get 15 per cent off its new business rates bill from April, with their bills frozen for two years.
This will be worth £1,650 for the average pub next year, and will mean around three-quarters of pubs will see their bills stay the same, or fall, next year.
The package will mean in 2028/29, the business rates receipts from pubs for the Treasury will be lower than they are this year.
During the announcement, Dan Tomlinson, Exchequer Secretary to the Treasury, said: "Pubs haven't had the support they needed for too long under the Conservatives.
"They are essential to the social and cultural life of so many places across the country."
The package includes the relaxing of licensing rules for venues for hospitality venues ahead of this year's World Cup.
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A business rate relief package for pubs was announced by Dan Tomlinson MP
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The sector warned that Ms Reeves' Budget tax changes could lead to mass closures, job cuts and price rises.
On Monday, the Revel Collective, which manages 62 pubs across the UK, appeared to be the latest casualty of this trend after filing for administration in a move that places 3,000 jobs at risk.
The group own popular hospitality chains, such as Revolution bars and Revolucion de Cuba.
The live music venue sector has called for the relief to be extended to them, with nearly 50 Labour MPs having written to the Chancellor, calling for the increase in business rates for music venues to be halted.
Kate Nicholls, the chair of UKHospitality, said: "We welcome the recognition by the Prime Minister and the Chancellor of the scale of the challenges facing the hospitality sector.
"They have listened to us about the acute cost challenges facing businesses, all of which is impacting business viability, jobs, and consumer prices.
"The rising cost of doing business and business rates increases is a hospitality-wide problem that needs a hospitality-wide solution.
"The Government’s immediate review of hospitality valuations going forward is clear recognition of this."
Sir Mel slammed the Government for attempting to plaster over the issue
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Shadow Chancellor Sir Mel Stride said: "Is that it? After all this time.
"After weeks of telling all our pubs that help is on the way, this is all we get.
"A temporary sticking plaster that will only delay the pain for a few, while thousands of businesses despair as their bills skyrocket.
"Labour promised to replace the business rate system, and they've done the exact opposite."
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