Business Rates"This government will back the businesses that people want to see in their communities," said Burnham, a former mayor of Greater Manchester. Burnham said the cut to hospitality business rates would save the typical pub about £1,100 next year, benefiting nearly 32,000 venues. Burnham had previously floated the idea of hiking business rates on warehouses used by online giants such as Amazon to help businesses on traditional high streets. Business ConfidenceThe recent resurgence of the Iran war has spurred fresh concerns about higher energy prices and possible interest rate increases, hitting business confidence. A hospitality survey released in July showed 23% of respondents were operating at a loss, while 5% said their business was no longer viable.