RICS CEO comments on UK Government cutting business rates for pubs, clubs and live music venues

RICS CEO Justin Young commented on the UK Government announcement that it is cutting business rates by 20% for pubs, clubs, and live music venues:

“Protecting and revitalising our high streets is critical to the UK's prosperity. In every corner of the country, we must boost growth and support communities to thrive.

“RICS welcomes the new Government’s scrutiny of the business rates system and attempt to remedy some of the burden it brings. Chartered surveyors play a critical role in the rating system, supporting businesses to navigate complex regulations and ensure fair assessment. UK taxation should not fall disproportionately on businesses because they require physical assets to operate.

“We have consistently supported a more responsive rating system. In practice, this includes meaningful and wholesale reform of the business rates system, as well as reduced complexity and greater transparency.

“To ensure high streets are supported across the country, the Government must focus on the role commercial property plays and its benefits. RICS will continue to make the case for a fairer system for ratepayers and all stakeholders.”

-ENDS-

About RICS

We are RICS. Everything we do is designed to effect positive change in the built and natural environments. Through our respected global standards, leading professional progression and our trusted data and insight, we promote and enforce the highest professional standards in the development and management of land, real estate, construction and infrastructure.

Our work with others provides a foundation for confident markets, pioneers better places to live and work and is a force for positive social impact.

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Kris Hicks
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