Sacha Lord said many hospitality firms would shut in early 2026

A 5p reduction in business rates for hospitality and retail was held up by the Chancellor as a sign the government was listening to their concerns. But – writes Ali Lyon – as business owners calculated what it meant for their bottom line, they discovered that the devil was in the detail.

It was supposed to be one of the few scraps of good news in a Budget otherwise short of festive cheer .

Having announced a deeply unpopular cap on salary sacrifice, alongside a 2p hike to dividend tax and a continuation of the freeze on income tax thresholds, the Chancellor, nearing the end of her speech, turned to the good news.

The long suffering hospitality industry would, along with retailers, be granted a 5p cut to their business ra

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