Business
More businesses call to be included in pub rates backtrack
High street shops, pharmacies and music venues have called on Rachel Reeves to axe the looming increases to business rates for them as well as pubs.
The government is expected to announce a climbdown on the increases to business rates bills faced by pubs in England in the coming days.
Landlords and pub owners have been fiercely critical of the impending hikes, with more than 1,000 pubs banning Labour MPs from their premises.
But other lobby groups and backbench MPs have urged the government to widen the relief, saying many other kinds of businesses will not be able to pay the higher bills.
In her November Budget, the chancellor scaled back business rate discounts that have been in force since the pandemic from 75% to 40%, and announced that there would be no discount at all from April.
That, combined with big upward adjustments to rateable values of pub premises, left landlords facing the prospect of much higher bills.
The BBC understands the climbdown will apply only to pubs and not the whole hospitality sector.
The British Independent Retailers Association (Bira) questioned why its members -– which include high street shops, restaurants and cafes — would not be given the same relief.
Its chief executive Andrew Goodacre said independent retailers “face exactly the same challenges as pubs but have been left out of discussions about additional support”.
“Perhaps independent retailers need to follow the pubs’ example and start banning MPs from their premises too,” he said.
The British Retail Consortium (BRC) said the current business rates system “is not fit for purpose”.
Helen Dickinson, the BRC’s chief executive, said: “This latest announcement looks like another sticking plaster on a broken system rather than the more fundamental reform required.”
Jon Collins, chief executive of music venue body LIVE, said: “If the government is preparing a U-turn on business rates for pubs, it must not leave live events and arenas behind.”
The National Pharmacy Association chief executive Henry Gregg said the sector could face a 140% increase in rates, while the lobby group for gyms, pools and leisure centres said those businesses faced potential rate increases of 60%.
“Failure to provide a business rates support package to gyms, pools and leisure centres will lead to higher prices, reduced services, redundancies and in some cases the loss of gyms from our communities,” chief executive of ukactive Huw Edwards said.
Some of those lobby group concerns were echoed by MPs.
“Venues, clubs and cinemas up and down the country are already struggling for survival,” Conservative MP Dame Caroline Dinenage wrote to the chancellor on Thursday.
She said the planned rates reforms risk “pushing many over the edge”.
“The Treasury needs to be open about how it decided on the changes, while the sector desperately needs more details on the alternative support promised by the Prime Minister.”
Reeves said earlier this week that the government had reduced the rate of tax on pubs and hospitality, but the Independent Valuation Office increased what they saw as the value of those properties.
“Now we’re working with the sector to look at the implications of a range of policies and looking at planning and licensing,” she said in an interview with Good Morning Britain.
“I want to support our pubs; I want to support our high streets. That’s why we made the change to the rates. But I recognise that many paths are still struggling and we’re working with them.”
Last Updated:
Gold is sold at a discount in Dubai due to Middle East conflict disrupting flights. Traders offer up to $30 per ounce less than London prices.
Dubai Gold Selling Cheaper As Iran War Grounds Flights
Gold is being sold at a discount in Dubai as the widening conflict in the Middle East disrupts flights and hampers the movement of bullion from one of the world’s key trading hubs.
According to a Bloomberg report, traders in Dubai are offering discounts of up to $30 per ounce compared to the global benchmark price in London. The unusual price cut comes as shipments remain stranded due to flight disruptions triggered by the escalating conflict involving Iran and Israel.
Dubai is a key global centre for refining and exporting gold to markets across Asia, including India. However, partial airspace restrictions and heightened security risks have slowed the movement of bullion out of the region.
Why Gold Is Being Sold Cheaper
Gold is typically transported in the cargo holds of passenger aircraft. With several flights from the UAE restricted amid regional tensions, traders are struggling to move bullion to international markets.
At the same time, insurance and freight costs have surged, making shipments more expensive and uncertain. Many buyers have therefore stepped back from placing new orders, unwilling to bear high logistics costs without assurance of timely delivery.
To avoid paying prolonged storage and financing costs while shipments remain stuck, some traders are offering gold at discounted prices.
Although transporting bullion by road to airports in neighbouring countries such as Saudi Arabia or Oman is theoretically possible, logistics firms are reluctant due to the risks and complications of moving high-value cargo across land borders during a conflict.
What It Means For India
India, one of the largest buyers of gold shipped from Dubai, could face short-term supply disruptions if the situation continues.
Renisha Chainani, head of research at Augmont Enterprises Ltd., said several cargo shipments have already been delayed, creating temporary tightness in the availability of physical bullion in India.
However, industry experts as reported by Bloomberg say the immediate impact may remain limited as domestic inventories are currently comfortable after heavy imports earlier this year.
Chirag Sheth, principal consultant for South Asia at Metals Focus, said Bloomberg that India has ample stocks for now, but warned that prolonged disruptions could eventually affect supply if the conflict continues for several months.
Meanwhile, global gold prices have surged this year amid geopolitical uncertainty, with spot gold recently trading above $5,000 per ounce.
Click here to add News18 as your preferred news source on Google.
Follow News18 on Google. Join the fun, play games on News18. Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. To Get in-depth analysis, expert opinions, and real-time updates. Also Download the News18 App to stay updated.
March 08, 2026, 10:03 IST
Read More
Some seven in 10 British adults without a full driving licence say learning to drive is currently unaffordable, according to a survey.
The figure is even higher among younger people, with 76% of 18 to 29-year-olds without a licence saying driving lessons are financially out of reach, the poll for car insurer Prima found.
Overall, 38% said the cost of driving lessons was the biggest deterrent to learning to drive.
Some 32% were put off by the price of buying a car and 15% said the cost of car insurance was the main barrier to learning to drive.
Almost half (45%) said they would consider learning to drive if it became significantly cheaper.
Nick Ielpo, UK country manager at Prima, said: “For a growing number of people, driving is no longer a symbol of freedom – it’s a financial stretch too far.
“Between lessons, buying a car and insuring it, the upfront and ongoing costs are pricing many people out before they even start.”
Find Out Now surveyed 1,134 adults who do not hold a full driving licence between January 21 and 23.
Go Digit General Insurance on Saturday said it has received a demand notice of about Rs 170 crore for short payment of goods and services tax (GST) for nearly five years. The company has received an order copy from the Office of the Commissioner of GST & Central Excise, Chennai South Commissionerate on March 6, confirming GST demand of Rs 154.80 crore levying penalty of Rs 15.48 crore and Interest u/s 50 of CGST Act, 2017 for the period July 2017 to March 2022, the insurer said in a regulatory filing. The company is in the process of evaluating the legal advice on the implications and would file an appeal, it said.
Special loan facility for Feb wages in Bangladesh’s export units
Let girls fly
Why have 1,000 ships at times lost their GPS in the Mideast?
LPGA legend shares her feelings about US women’s Olympic wins: ‘Gets me really emotional’
India Us Trade Deal: Fresh look at India-US trade deal? May be ‘rebalanced’ if circumstances change, says Piyush Goyal – The Times of India
Pakistan’s semi-final qualification scenario after England defeat New Zealand
-
Sports1 week agoLPGA legend shares her feelings about US women’s Olympic wins: ‘Gets me really emotional’
-
Business1 week ago
India Us Trade Deal: Fresh look at India-US trade deal? May be ‘rebalanced’ if circumstances change, says Piyush Goyal – The Times of India
-
Fashion1 week agoSouth Korea’s Misto Holdings completes planned leadership transition
-
Entertainment1 week agoPakistan’s semi-final qualification scenario after England defeat New Zealand
-
Entertainment1 week agoBobby J. Brown, “The Wire” and “Law & Order: SUV” actor, dies of smoke inhalation after reported fire
-
Business1 week agoGreggs to reveal trading amid pressure from cost of living and weight loss drugs
-
Business1 week agoCNBC To Merge TV And Digital News Operations, Nearly A Dozen Jobs To Be Cut: Report
-
Entertainment1 week agoWhat’s new in Pokémon? Every game, update, surprise from 30th anniversary event