30.10.2024: UK Music Chief Executive Tom Kiehl has issued a response to Chancellor Rachel Reeves’ first Budget.

Responding to the Budget, UK Music Tom Kiehl said:

“The Budget,  Labour’s first in government for 14 years, is a significant moment as we seek to grow the music industry over the course of this new Parliament. The sector is made up of many small and medium enterprises. Increasing the Employment Allowance to £10,500 will hopefully help many of these music businesses, which contribute greatly to the industry’s economic contribution of £7 billion, navigate some of the challenges ahead.

“Business rates continue to present a big challenge for many creative businesses, from venues, record stores and studios. The continuation of business rate relief should be welcome, yet at a reduced rate of relief of 40% will mean further interventions will be necessary to support this delicate part of our ecosystem.

“It is welcome to see government put further funding into the Creative Careers Programme but as it takes forward a curriculum review to potentially expand creative education this needs to be supported by further investment to ensure we overcome inequality of opportunity to support the industry’s future talent pipeline.”