Cut business rates or the show is over, say music moguls
Under pressure: While stars like Dua Lipa (pictured) continue to draw large audiences, many recording studios are struggling
The music industry is putting pressure on the Chancellor to reform business rates.
While stars like Dua Lipa continue to draw crowds, many recording studios are struggling.
The Music Producers Guild (MPG) is calling on Rachel Reeves to ‘fundamentally reform the business rates system’.
A survey by MPG shows that half of studios are considering closing next year.
MPG chief executive Matt Taylor said: ‘Unless the Government implements deep reforms to business rates, we will see more iconic recording studios close.’
A studio executive said, “We’re struggling to survive.”
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