Tax changes announced in the budget could have "devastating, unintended consequences" on live music venues, including widespread closures and job losses, trade bodies have warned.

The bodies, representing nearly 1,000 live music venues, including grassroots sites as well as arenas such as the OVO Wembley Arena, The O2, and Co-op Live, are calling for an urgent rethink on the chancellor's changes to the business rates system.

If not, they warn that hundreds of venues could close, ticket prices could increase, and thousands could lose their jobs across the country.

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Business rates, which are a tax on commercial properties in England and Wales, are calculated through a complex formula of the value of the property, assessed by a go

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