Music Venue Trust blast Welsh budget for putting hundreds of jobs and gig spaces at risk

nme.com:

here – Davyd outlines the negative consequences that will come from the new budget.“The gross profit from the entire sector in Wales in 2023 was £119,000.

The proposed fall in rates relief creates a new additional cost of £127,000,” it reads. “If signed off as planned, this single measure puts the sector, as an entire network, into the red.”“It places the long-term resilience of Welsh Grassroots Music Venues (GMVs) at a severe and direct competitive disadvantage when compared to their cultural counterparts in England that will continue to be entitled to rate relief, resulting in very significant national disparity between costs associated with touring,” it added. “37 Grassroots Music Venues in Wales (77 per cent) are subject to the increase in costs, allowing for all models of rate relief.”In the figures put forward, the letter also reads that the decreased relief rates “present an immediate threat of closure to 16 venues – 33.3 per cent of all the venues in Wales.”“If these 16 venues close, the direct cost to the rates budget would be £153,679.

Only 12 of these venues would need to close before the total raised from the predicted increase delivered by this budget measure (£127,000) would be eliminated by business closures,” it continued. “588 jobs, £8million of economic activity, 3500 events and 30,000 performance opportunities for musicians are at direct risk from this measure.”Since sharing the letter – which was a follow-up to the MVT initially reaching out last month – a response has been issued by Dawn Bowden, the Deputy Minister for Arts, Sport and Tourism of Wales.In the reply, shared on MVT’s website, Bowden informs Davyd that the Welsh government are planning on “investing an additional £78m to provide a fifth.