<\/p>\n
Yesterday’s Budget gives some breathing space to our smallest businesses, but tourism and the visitor economy was not mentioned as a sector. The key points for the local\u00a0visitor economy from the statement are as follows:\u00a0<\/p>\n
\n
\nBusiness rates for small premises
\n
<\/p>\n
\u200b\u200bThe Small Business Rate Relief threshold for retail, hospitality and leisure will rise\u00a0from \u00a312,000 to \u00a318,000 rateable value. The Treasury says a further 70,000 businesses will pay nothing, and half of all such properties in England will pay no rates.<\/p>\n
\n
<\/p>\n
A real-terms freeze for everyone else in the sector:\u00a0Other retail, hospitality and leisure properties get a two-year freeze so none faces an above-inflation rise. Bills can still rise with inflation, so this is stability, not a cut.<\/p>\n
\n
<\/p>\n
An extra 20% off for pubs, music venues and social clubs: this will take effect from April 2027, on top of this year’s 15% relief. The very largest music venues are excluded.<\/p>\n
\n
\nSmaller cost wins
\n
\n
\n\t\u00a310 million a year in alcohol duty relief for over 2,000 small producers.\u00a0
\n\t5p fuel duty cut extended to July 2027.\u00a0
\n\tTariffs cut on 100+ food and drink products.\u00a0
\n\tLower-stake machines in pubs and seaside arcades protected from the Machine Games Duty rise.
\n
\n
\n\u200bSkills and people
\n
<\/p>\n
The Government’s Jobs Guarantee for 18\u201324-year-olds and \u00a3100 million for local apprenticeship services play to our strength as the country’s biggest first employer. Parental pay extended to self-employed fathers and partners matters to the freelancers our cultural workforce depends on.<\/p>\n
\n
<\/p>\n
The National Living Wage is set to rise by 3.9% from April 2027,\u00a0to \u00a313.21 for those aged 21 and over, \u00a311.27 for those aged 18-20, and \u00a38.31 for 16-17 year olds and apprentices.\u00a0<\/p>\n
\n
\nHoliday Lets
\n
<\/p>\n
Tax rates on property income will rise by a further two percentage points from April 2027.<\/p>\n
\n
\nErasmus+
\n
<\/p>\n
The Budget makes provision for the UK\u2019s already-confirmed participation from January 2027, including delivery costs. This is a positive development for educational exchange and mobility.<\/p>\n
\n
\nVAT
\n
<\/p>\n
Unfortunately, but not unsurprisingly, there was no VAT cut for the industry. Hospitality and paid attractions stay at 20%, well above our European competitors, despite the cross-industry #VATsTheProblem campaign for 10%.\u00a0There was no reform of Theatre Tax Relief, and no touring support.<\/p>\n
\n
\nIndustry responses
\n
\n
\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
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