UK Budget - A Statement from Mark Davyd, CEO of Music Venue Trust

"This Budget is yet another episode in the long running saga of failures to seize opportunities to support Grassroots Music Venues. The Government's rhetoric on their support for this vital sector  is completely undone by the reality of their business rates decision. Abandoning the current 40% Rate Relief for a far weaker 12% reduction in the Rateable Value multiplier is a tax hike hiding under the claim of 'lower bills for everyone in 2026/27'. Abandoning the existing Rate Relief simply results in higher bills next year than this year, no matter what HM Treasury spreadsheets claims or what impact on that rise Transitional Relief might have.