“They will obviously pay higher rates to give the ability then to cut business rates for pubs and other venues that bring people together and bring wider benefits to high streets and communities.” This is a significant cut to the business rates that pubs and other venues pay. Chief Secretary to the Treasury Emma Reynolds insisted the business rates policy is fully funded, despite both sources of revenue being described as subject to review or consultation. The British Beer and Pub Association said it was “delighted” and was eager to look ahead to “permanent business rates reform”. No 10 has said it will look to set out further reform to the wider business rates system, including small business rates relief, at the budget.