The music industry is piling pressure on the Chancellor to reform business rates.
While stars like Dua Lipa continue to attract huge crowds, many recording studios struggle.
The Music Producers Guild (MPG) is calling on Rachel Reeves to ‘fundamentally reform the business rates system’.
An MPG survey found half of studios are considering closing in the next year.
MPG director Matt Taylor said: ‘Unless the Government carries out root and branch reform to business rates, we are going to see more iconic recording studios close.’
One studio manager said: ‘We are struggling to survive.’
DIY INVESTING PLATFORMS
Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.
