In a move that will surely have publicans raising a glass (or perhaps throwing it), the Treasury has announced a review into how business rates are calculated for pubs and hotels in England and Wales. The review, led by business rates expert Jerry Schurder, will report back in March 2027 - just in time for the next rates revaluation in 2029, because nothing says 'urgency' like a four-year wait.

Schurder, a former policy lead at Newmark UK, will be gathering views from landlords, hoteliers, and business owners, presumably while they're still solvent. The government is calling it a 'rethink of valuations' to build a 'fairer system for the future,' as financial secretary James Murray put it. Because clearly, the future can't start until 2027.

The review comes hot on the heels of Andy Burnham's announcement of a 20% cut in business rates for pubs, social clubs, and live music venues in England, effective April. That's on top of a 15% cut earlier in 2026, which itself was a response to the previous government's plan to scrap discounts entirely - a plan that went over about as well as a pint of warm ale.

Pub groups have long argued they're being charged disproportionately high rates, and the numbers back them up: the British Beer and Pub Association (BBPA) reports 161 pubs closed in the first three months of this year across England, Scotland, and Wales, costing around 2,400 jobs. Rising rates are one culprit, but let's not forget the National Insurance and minimum wage increases that have made staffing about as affordable as a round for the whole pub.

The BBPA's Emma McClarkin called the review 'sorely needed and hugely welcome,' noting that pubs are valued using a measure called Fair Maintainable Trade, which essentially means the more you earn, the more you pay - a novel concept that would surely go down well in other sectors. Craig Beaumont of the Federation of Small Businesses (FSB) also welcomed Schurder's 'heavyweight expertise' but suggested the government might want to actually increase the rates relief threshold for smaller firms. Radical.

Tom Ironside from the British Retail Consortium struck a cautious note, insisting retailers' needs 'are not overlooked.' Because nothing says 'fairness' like a scrum of industries all claiming victimhood.

Shadow Chancellor Sir Mel Stride, never one to miss a chance for hyperbole, declared the review 'far too late for a sector this Labour government has already done its best to kill off,' citing tax hikes and 'job-destroying regulation.' Liberal Democrat Treasury spokesperson Daisy Cooper called reform 'long overdue' but demanded an emergency VAT cut and a reversal of jobs tax changes, because why not throw more money at the problem?

Meanwhile, the government has confirmed the 20% discount won't apply to the 'very largest' live music venues, and there's some confusion about what actually qualifies as a pub. Details are expected in Chancellor John Healey's first Budget this autumn. So, pubs, hold your breath - but maybe not too long, given the current closure rate of nearly two per day. Cheers.