Business
‘Business rates changes will cost me £62,000’
The owner of a small pub chain in the south east of England has said his costs will rise by £62,000 per year after changes announced in the Budget.
Phil Thorley, who runs the Thorley Taverns pub group, said business rates – a tax on commercial properties – will rise for 17 of his 18 sites, despite Rachel Reeves promising lower taxes for retail, leisure and hospitality firms.
Reeves had vowed to introduce the lowest taxes since 1991 for pubs, restaurants and small shops by increasing the levy on higher-value properties such as warehouses used by Amazon and other online giants.
The government said changes it had made meant it was saving most “typical independent pubs” £4,800 per year.
A firm’s rateable value is based on how much it would cost to rent a firm’s property for a year, and is used to calculate a business’s rates bill.
The government said it would calculate business rates for 750,000 High Street retail and hospitality firms using a lower percentage of the rateable value of premises, but this lower tax rate was not as generous as expected.
At the same time, many firms have seen their rateable value increase and face the phasing out of a Covid-era 40% discount from April.
The net result is that, despite some transitional relief, lots of them will see significant increases in their business rates bill.
Transitional relief caps the increase in rates for each year. For properties outside London with a rateable value of £20,000 to £100,000, the limit is 15% in 2026-27, 25% in 2027-28, 40% in 2028-29 (plus inflation).
UK Hospitality estimates that an average pub would pay £12,900 more over those three years, while an average hotel would pay £205,200 more.
Mr Thorley told BBC Radio 4’s Today programme that the rateable value at most of his sites had “gone north”.
“A further £62,000 worth of costs onto the business, which is absolutely at its knees at the moment.”
He said the industry was already under significant pressure following the chancellor’s first Budget last October, which pushed up hiring costs with a hike in employer national insurance contributions and the minimum wage.
Mr Thorley said another minimum wage hike will mean “less employment, less investment, less training in the people that we’ve got, and less jobs for young people”.
And he warned the chancellor’s Budget would “be the death knell to the British pub”.
The government said it is protecting pubs, restaurants and cafes with a £4.3bn package of support, limiting firms’ business rates bills.
A Treasury spokesperson said: “This comes on top of cutting the cost of licensing to help more offer pavement drinks and al fresco dining, keeping our cut to alcohol duty on draught pints and capping corporation tax.”
But Elaine Wrigley, the owner of Atlas Bar in Manchester, said Reeves’ latest Budget was “smoke and mirrors”.
She told the BBC the rateable value of her bar, used to calculate its business rates bill, has jumped from £69,000 in 2023 to £97,000. And she said that even with lower multipliers for small retail, leisure and hospitality firms she is still facing a 15% increase in her business rates bill.
“She may well have said it’s the lowest rate and the best support but it’s from the highest base,” Ms Wrigley said.
She added: “We’ve put our prices up four times in the last 12 months, but we’re at a point now where we feel like we can’t put any more on to our customers, so subsequently our margins are being reduced and being squeezed which is not helpful.”
And Sacha Lord, chairman of the Night Time Industries Association (NTIA) said the business rates changes amount to a “stealth tax” on High Street pubs, restaurants and bars.
He told the BBC operators initially welcomed the Budget, but the impact of revaluations became clear within hours of the chancellor’s statement.
“Once this kicks in in April, we are expecting to see more closures than ever before, including during the pandemic,” Mr Lord warned.
The Conservatives dubbed the chancellor’s business rates changes “a bombshell” and warned many pubs, restaurants and shops would see their bills “going up, by a lot”.
Shadow business secretary Andrew Griffith said the government had previously consulted on a far larger discount to business rates, but had “bottled it”.
“The result will be more closures, fewer jobs, and lower growth,” he said.
He called on Reeves to change course urgently, adding that “businesses need certainty before they face these bills in April”.
The Liberal Democrats said Reeves should “throw our hospitality sector a lifeline”.
Treasury spokeswoman Daisy Cooper added: “Our pubs, cafes, and restaurants are already on their knees, and these choices will only force more high street businesses to shut up shop.”
She called for the chancellor to cut the rate of VAT for the sector.
NEW DELHI: People with job cards assigned under Mahatma Gandhi National Rural Guarantee Scheme will be able to get work without disruption when transition takes place to new rural employment framework under Viksit Bharat-Guarantee for Rozgar and Aajeevika Mission (Gramin) Act.Even though exact timeframe is not known yet, rural development ministry officials said the VB-G RAM G scheme will come into force in the coming financial year after the Centre frames and notifies the rules. After govt notifies the Act’s commencement date, states will get six months to make their schemes to enable implementation of the law.To ensure there is no disruption and job guarantee is upheld during transition from MGNREGA, it has been proposed to enable workers to use the same job cards issued under MGNREGA with Aadhaar-based eKYC.The officials said that as of now, around 75% of job cards have been verified with eKYC under the ongoing scheme. Moreover, ongoing projects under MGNREGA, if incomplete when the transition happens to the new scheme, would stay on course.Meanwhile, work is on to frame rules, lay out regulations on normative allocations, fund flow plan, IT framework, a national-level steering panel and social audits.Under the new law, focus will be on transparency to weed out leakages and duplicacy of work,the social audit system will be strengthened, and technology leveraged to create systems to establish work progress, timely wage payment and accountability through ‘e-measurement’ books, sources said. Demand for work will have to be entered on a digital platform. Officials made it clear the new law in no way interferes with demand-driven character of the scheme.
Business
Gurugram Attracts Rs 86,588 Crore In Real Estate Investments In 2025 As RERA Clears 131 Projects
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Alongside rising investments, Gurugram RERA strengthened regulatory oversight to safeguard homebuyer and investor interests
Gurgaon Real Estate (Representative Image)
Gurugram emerged as one of India’s top real estate investment destinations in 2025, with projects worth Rs 86,588 crore receiving regulatory approvals during the year, according to data from the Gurugram Real Estate Regulatory Authority (Gurugram RERA).
Market observers said the numbers reflect strong investor confidence in the NCR’s largest commercial and residential hub.
Gurugram RERA registered 131 projects in calendar year 2025, representing development potential of 35,455 units across housing and commercial segments.
A striking feature of the data was the dominance of large-ticket projects. Just 28 major developments accounted for investments worth Rs 59,360 crore, highlighting the growing influence of institutional capital and large developers in shaping Gurugram’s property market.
Residential assets continued to attract the bulk of investment interest. Of the total units approved, 31,455 were residential, underscoring sustained end-user demand and long-term confidence in the city’s housing fundamentals.
According to Authority data, the residential mix included 17,405 group housing units, 5,720 mixed land use units, 4,040 residential floor units, 2,122 affordable group housing units, 1,954 units under the Deen Dayal housing scheme, and 214 residential plotted colony units.
Market observers said this diversified supply pipeline indicates capital deployment across both premium and mass segments, helping reduce concentration risk and deepen market resilience.
On the commercial side, Gurugram RERA approved about 4,000 commercial units, of which 168 were dedicated to IT parks, reinforcing Gurugram’s position as a preferred hub for technology firms and Global Capability Centres.
Analysts noted that the combination of office-led employment growth and residential expansion continues to make Gurugram attractive for long-term capital deployment.
Industry experts said the scale of investments approved in 2025 highlights Gurugram’s ability to attract capital despite global uncertainty, supported by infrastructure growth, a strong corporate base and an improving regulatory environment.
“With a large pipeline of approved projects and sustained interest from developers and institutional investors, Gurugram is expected to remain a key real estate investment destination in the coming years,” a Gurugram-based real estate expert said.
Tighter regulatory checks
Alongside rising investments, Gurugram RERA strengthened regulatory oversight to enhance transparency and safeguard homebuyer and investor interests.
“These steps included stricter scrutiny of developer submissions, mandatory site inspections by domain experts, and public consultation through mandatory notices before project registration,” an Authority official said.
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January 16, 2026, 07:44 IST
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National Startup Day highlights India’s thriving startup ecosystem, celebrating innovation, entrepreneurship and job creation driven by founders, unicorns and Startup India mission
National Startup Day 2026 honours Indian startups, entrepreneurs and innovators driving economic growth and job creation.
National Startup Day 2026: India’s startup ecosystem has evolved into one of the world’s most vibrant and promising innovation hubs. To recognise the contribution of entrepreneurs, founders and startups transforming ideas into impactful solutions, National Startup Day is observed every year on January 16 across the country.
Launched by Prime Minister Narendra Modi in 2022, the day celebrates visionary entrepreneurs who play a crucial role in economic growth, employment generation and technological advancement.
National Startup Day serves as a reminder that innovation, backed by determination and policy support, can reshape society and create global impact.
National Startup Day 2026 Theme
The official theme for National Startup Day 2026 is yet to be announced. However, the core focus areas are expected to revolve around:
- Innovation and emerging technologies
- Entrepreneurship and leadership
- Self-reliance (Atmanirbhar Bharat)
- Startup India Mission
- Youth empowerment
- Job creation
How Startups Are Shaping India’s Future
India currently ranks as the third-largest startup ecosystem globally, with over 1.59 lakh startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) as of early 2025. Backed by 100+ unicorns, the ecosystem continues to grow rapidly.
Metro cities such as Bengaluru, Hyderabad, Mumbai and Delhi-NCR lead this expansion, while Tier-2 and Tier-3 cities are emerging as new innovation centres, adding diversity and scale to India’s entrepreneurial journey.
Startups across fintech, edtech, health-tech, e-commerce and deep-tech are addressing real-world challenges and gaining global recognition. Technologies like artificial intelligence, blockchain and IoT are increasingly driving innovation, according to Startup India ecosystem reports.
Industry-Wise Startup Impact
DPIIT-recognised startups have generated over 16.6 lakh direct jobs across sectors as of October 31, 2024, strengthening India’s employment landscape.
- IT Services: 2.04 lakh jobs
- Healthcare & Life Sciences: 1.47 lakh jobs
- Commercial & Professional Services: 94,000 jobs
Through the Startup India initiative, the government continues to focus on skill development, funding access, ecosystem collaboration and global outreach.
Key Initiatives Under Startup India
- Capacity building and mentorship
- Outreach and awareness programmes
- Ecosystem development events
- International exposure and global linkages
- Collaboration between startups, corporates and institutions.
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January 16, 2026, 07:00 IST
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