I recognise the significant contribution that the night time economy makes to our towns and cities and to the economy as a whole and sympathise with the increased pressures on businesses.
As part of a package to help with energy bills, the Prime Minister announced a new 6 month scheme for businesses and other non-domestic energy users to guarantee a limit on their energy bills over the winter. After this initial 6 month scheme, the government will provide ongoing focused support for vulnerable industries. There will be a review in 3 months’ time to consider where this should be targeted to make sure those most in need get support. I understand that further details will be published shortly.
Any decision to modify our tax regime is a matter for the Treasury and careful consideration will be given to any proposed amendments to current VAT rates. I understand that the Government keeps all taxes under review, including VAT. I shall be following the developments on this issue closely, and I will ensure my colleagues at the Treasury are aware of the strength of feeling on this issue.