UK government cuts business rates for pubs and music venues by 20%

The UK government will cut business rates by 20% for pubs, clubs and live music venues in England from April. Business rates are a local tax that companies pay to operate. Prime Minister Andy Burnham said the £100 million package is fully funded. To pay for it, the government plans to reduce tax relief for some businesses, including vape shops, which it says do not benefit local communities. Venues have struggled financially in recent years, and the government says this cut will help them stay open. This is one of three cost-of-living announcements made this week. The others were a cap on bus fares and the removal of a tax on household electricity bills.