Propaganda Independent Venues has expressed its shock and dismay at the exclusion of its Cardiff grassroots music venue, Tramshed, from the permanent 30% business rates cut for hospitality and leisure venues announced by the Welsh Government yesterday.
Tramshed has seen its rateable value increase by nearly 36% in just three years, from £40,500 in 2023 to £55,000 in 2026, subsequently tipping over the newly set £51,000 threshold for permanent business rates relief. This means Tramshed and many other live music venues are excluded from vital financial support at a time when the industry faces profound challenges, including skyrocketing overheads and a cost-of-living crisis.
Propaganda Independent Venues co-founder Dan Ickowitz-Seidler commented,
“We are devastated by the announcement that Tramshed will be excluded from the permanent 30% business rates relief. The rateable value of Tramshed, set by the HMRC Valuation Office and the Welsh Government has risen dramatically, taking us just over this new threshold to qualify for support, and it feels like we have been pushed over a cliff edge. Tramshed is a longstanding and culturally important space in Cardiff. We need financial support as much as any other venue, if not more. We provide many jobs for local people and suppliers, and consistently bring additional footfall to the local economy. Our exclusion from the permanent business rate relief offered to the vast majority of live music venues in Wales is patently unfair and will have a direct impact on culture in Cardiff.”
Organisations such as the Music Venues Trust have been campaigning for additional support for live music venues, pushing for an increase on the current temporary 15% business rates relief scheme. In a post yesterday the MVT welcomed the announcement but also pointed to the many venues in Wales that find themselves excluded from this support at a time when it is desperately needed. They noted that “Mid-scale venues serve as essential regional hubs within the Welsh live music ecosystem, yet they face paying full business rates without relief. Furthermore, while a 30% reduction improves operational stability, it does not fully restore the protection previously offered by the 75% relief scheme, nor does it address the underlying issue of how cultural spaces are valued for business rates.”
The Welsh Government’s statement says that the cut in business rates will be funded by “a small increase to the higher multiplier, which applies to the highest value properties in Wales,” meaning that Tramshed could not only miss out on the business rates cut that is supporting the majority of other live music venues, but may even face an increase in its business rates bill to fund this support.
The permanent business rates cut is due to apply from 1st April 2027 and will benefit a range of businesses including cinemas, theatres, libraries, museums, gyms, hotels, pubs, restaurants, and clubs. Propaganda Independent Venues is seeking clarification from the Welsh Government regarding the exclusion of Tramshed and other live music venues from this essential financial lifeline.
Featured photo credit: Propaganda Independent Venues