Live Music Venues Warn of Devastating Consequences from Budget Business-Rate Changes
Trade bodies representing nearly 1,000 live music venues, including grassroots sites and major arenas such as OVO Wembley Arena, The O2, and Co-op Live, have warned that recent budget business-rate changes could trigger hundreds of venue closures, higher ticket prices, and thousands of job losses.
A letter coordinated by Live argues that the revaluations will raise costs for venues and threaten the UK's grassroots music scene as well as the wider creative sector. They are urging a 40% discount on business rates for live venues, fundamental reform of the commercial-property valuation system, and a rapid inquiry into how event spaces are valued.
These organisations highlight that many arenas face more than 100% increases in business rates liability, risking closures and the hollowing out of high-street economies.
In response, the Treasury has stated it has capped bills with a £4.3 billion support package, maintained corporation tax at 25%—the lowest in the G7—and is implementing measures such as relaxed temporary-admission rules for equipment, a 40% orchestra tax relief for live concerts, and up to £10 million to support venues and live music.
Context from the Budget 2025 analysis notes potential substantial rate hikes for pubs and hotels; however, the Treasury claims the cap will mean a typical independent pub pays around £4,800 less next year.
