Hunt Considers Extending UK Tax Breaks for Hospitality, SMEs
- Measures due to be announced at Autumn Statement next week
- Hospitality sector warns of closures without extra help
A waiter carries food to a table in London.
Photographer: Jason Alden/BloombergThis article is for subscribers only.
Chancellor of the Exchequer Jeremy Hunt is considering plans to extend tax breaks for the hospitality sector and small businesses in his autumn fiscal statement next week as part of efforts to boost economic growth.
Britain’s finance minister is looking at prolonging a 75% reduction in business rates bills for hospitality firms that would otherwise expire next year, according to people familiar with the matter. He’s also considering extending a protection that caps any increase in the business rates bills of small companies at £600 ($745), said one of the people, who requested anonymity because the proposals haven’t been finalized.