The Government has announced an independent review into how pubs and hotels are valued for business rates, a move welcomed by Family Business UK as a positive step towards creating a fairer system for businesses operating in these sectors.
‘We welcome this review as a positive step forward for pubs and hotels, many of which are family-owned businesses rooted in their communities and were not fully supported by previous changes to the business rates system.
However, while targeted support for sectors facing particular pressures is welcome, the wider business rates system still needs fundamental reform. Family-run, bricks-and-mortar businesses continue to shoulder a disproportionate burden, meaning that the very businesses that invest for the long term in our high streets and communities, are often penalised.
As we set out in our Policy Agenda, family businesses want to see a fairer and more progressive approach to business rates that better reflects businesses’ ability to pay and reduces the disproportionate burden on physical premises.
We look forward to working with the Government through this review and its wider reforms to create a fairer business rates system that encourages growth and investment and supports family businesses to continue investing in the places and communities they call home.’ – Fiona Graham, Chief Operating Officer at Family Business UK.