Andy Burnham to cut tax for pubs, clubs and live music in England and make vape shops pay more – business live

Live, rolling coverage of business, economics and financial markets as government says it will review reliefs for ‘anti-social’ businesses

Andy Burnham has cut business rates for pubs, clubs and live music venues by 20%, in the latest example of a flurry of policies since taking over as prime minister.

The cuts will cost about £100m a year, but will be partly funded by reviewing reliefs for “anti-social businesses”, with vape shops in particular singled out. 10 Downing Street said it will look at businesses that “do not make a positive contribution to local communities”.

Having worked closely with the new Prime Minister’s team over recent weeks, it is encouraging to see a positive outcome from genuine engagement with the sector. The inclusion of clubs alongside pubs and live-music venues is particularly important and demonstrates a broader recognition of the vital economic, cultural and social contribution made by the night-time economy.

This is the third major policy announcement in as many days from the new government. Together, these interventions have undoubtedly begun to shift confidence across the sector and created renewed optimism that our concerns are being heard.

For too long, governments have stood by while cherished venues have disappeared from our local high streets. So today I am changing that.

This government will back the businesses that people want to see in their communities. I said I would protect pubs and local high streets – the beating heart of our communities – and that’s what we will do. What we’re announcing today is just the start as we work to bring back hope across the country.

11am BST: UK Confederation of British Industries industrial trends orders (July; previous: -45; consensus: -40)

1:15pm BST: European Central Bank interest rate decision (consensus: no change)

1:45pm BST: European Central Bank press conference

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