Last week's budget announcement brought some hard realities for grassroots music venues. Given the economic situation faced by the new Government, this was never going to be a generous budget. However, rather than offering support, it has created new challenges for venues already on the edge. While the retention of business rates relief was a positive note, the reduction of this relief from 75% to 40% is a blow. This change will increase costs for grassroots venues, many of which are already struggling to keep their doors open.
The Music Venue Trust (MVT) has raised concerns, pointing out that this leaves grassroots venues in a worse position than in 2019, when the previous government acknowledged their struggles and introduced a 50% business rates relief. Without a reversal of this decision or additional support, MVT estimates the potential consequences could be severe: 350 venue closures, 12,000 job losses, and the loss of live music in communities across the UK.
Commenting on the budget, Culture Secretary Lisa Nandy MP reiterated her commitment to opportunity for all, stating, “This government recognises that for millions of people, geography has become destiny. That while talent is everywhere, opportunity is not. This Budget has put the Creative Industries front and centre of how we write those people back into our national story and drive opportunity, jobs and prosperity into every community, in every region.” LIVE, the industry body for live music, plans to remind the Government of these words, advocating for meaningful support for grassroots music to ensure opportunities for communities everywhere. LIVE stresses that the retention of the Supporting Grassroots Music Fund and the theatre and orchestra tax reliefs are welcome, yet urges the Government to prioritise growth in its next budget, enabling sectors like live music to thrive and contribute fully to the UK’s economy.
Find out more at Music Venue Trust
Older Post
Newer Post