Oral Answers to Questions

Debate between Gareth Thomas and Paul Kohler

Thursday 31st October 2024 Commons Chamber

[Mr Paul Kohler (Wimbledon) (LD) [R]]

9. What steps he is taking to support the night-time economy. [R]

[The Parliamentary Under-Secretary of State for Business and Trade (Gareth Thomas)]

We recognise the important role that night-time economy businesses play in supporting local economies and communities. Healthy night-time economy businesses not only support our creative industries, including musicians, DJs and performance artists, but bolster tourism and day-economy businesses. We are focused on our five-point plan to breathe life back into Britain’s high streets. That work will ensure that our high streets are great places for our businesses, supporting economic growth across the UK, including in the night-time economy.

[Mr Kohler]

I refer the House to my entry in the Register of Members’ Financial Interests. The hospitality industry is a crucial aspect of the night-time economy. It already faces an existential crisis, with post-Brexit labour shortages, covid debt and wage and commodity inflation. What advice would the Minister give to the hospitality industry and businesses that now face a hike in national insurance costs and, despite the headlines, a more than doubling in last year’s business rates?

[Gareth Thomas]

I would gently point businesses in the night-time economy to a series of measures that we took in yesterday’s Budget, including to reform business rates for the long term, from 2026-27. We listened to businesses, including those in the night-time economy, and did not abolish the business rates relief. Under the measures that we have taken, for example, the average pub with a rateable value of almost £17,000 will save over £3,300 next year.