The move follows Burnham’s announcement last month of a 20% cut in business rates for pubs and similar venues one of the first measures introduced after he took office. However, restaurants and hotels were excluded from the plans.
Speaking to BBC Radio 5 Live, Burnham revealed he wanted to do more with business rates relief, saying: “We are going to bring forward the VAT cuts on electricity, we are bringing forward the business rate cuts for pubs, we’re going to look at business rates more broadly for high street businesses in the budget, so there’s plenty more that we can do.”
Burnham acknowledged that “the cost of doing business is too high” and said the government would do everything possible to help businesses while recognising the difficult financial position it faces.
“I’ve made a commitment around VAT on electricity and that does affect the smallest businesses who are able to get the benefits of the removal of VAT off electricity,” says Burnham.
“We’ve made a move on pubs and business rates. I’m signalling going further on business rates.
“So there are things that we can do, and we’ll do everything that is possible for us to do. But I think everyone knows that I’m in a position with limited room for manoeuvre.”
“I wouldn’t want to promise the earth and say all can be solved because I think people can see I’m facing a difficult financial outlook,” he says, adding that he would not introduce measures that could not be fully funded.
The Prime Minister also admitted that previous Labour government measures to increase business rates during Keir Starmer’s time in office had placed additional pressure on high street businesses.
He said rising energy costs had also contributed to the challenges facing businesses, adding that his role was not only to listen to their concerns but also to respond.