British Prime Minister Andy Burnham announced a 20% reduction in the profit tax for pubs and nightclubs

The new British Prime Minister, Andy Burnham, has made purchasing power a priority and announced on Thursday a 20% reduction in the profit tax for pubs and nightclubs in England. This is the third fiscal measure announced in three days, following the VAT exemption on electricity for households and the reimposition of a two-pound cap on bus fares.

The measure will allow approximately 32,000 businesses to save an average of £1,100 per year, but it will not apply to large concert halls. Burnham emphasized the importance of supporting these venues, which are closing at an alarming rate.

The measure will cost the government £100 million per year, funded by reviewing taxes for shops that do not contribute positively. Pub owners believe it is just a "drop in the ocean" and are calling for deeper reforms. The Conservative opposition has requested clarifications regarding the funding of the measure, and a group of British millionaires has called for higher taxes on the wealthy, estimating that this could bring £24 billion to the budget.