PRESS: UK government plans PS100 million annual support for pubs - FT

The UK Treasury is set to announce a support package for the pub sector worth about £100 million per year, the Financial Times reported late Monday.

Chancellor Rachel Reeves has been under pressure to provide help to pubs, after changes she made to business rates in the autumn budget raised costs and threaten mass closures.

The relief is expected to be announced as soon as Tuesday, the newspaper said, citing ‘people briefed on the matter’. It is not expected to include a reduction of VAT on beer, wines and spirits, the FT said.

Last week, Reeves said any relief will be limited to pubs, rather than extended to the wider hospitality sector that includes restaurants and hotels.

Leading UK pub chain JD Wetherspoon PLC last week warned of lower profit in the first half of its current financial year due to rising costs, including business rates.

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