More bums on (cinema) seats

Thursday 16th January

Get straight to the good stuff every day with the Multiply Minute; a lightning-quick round-up of the money news and how it affects you.

Big screen boom

UK film lovers are buying 27% more cinema tickets now than in 2010, and made a total of 176 million trips to the pictures in 2019. Despite competing with the allure of watching Netflix from the sofa, UK cinemas raked in £1.25 billion last year.

Empty shops cost councils

Landlords get a three month holiday from business rates (the corporate version of council tax) when high street businesses close or move and leave premises empty. The lost tax revenue, which totals £1 billion, is hitting councils hard. On the flip side, high business rates have also been blamed for shops’ struggle to stay open amid the decline of the high street. A government review of business rates is expected soon.

Fill me up

Asda is teaming up with some of the UK's best-known food and drink brands for its first ever "sustainability" store. It's a test to see if offering customers the option of filling up their own containers with products like coffee and pasta can eradicate unnecessary plastic and packaging. Its pioneering green store is set to launch from May in Middleton, Leeds.

Paid to protect

Farmers are set to be rewarded for protecting the environment, aiding access to the countryside, and improving animal welfare. The pack of measures lined up by the government's Agricultural Bill will replace the £3.4 billion a year of subsidies British farmers currently get from the EU. The government has promised the new legislation will match this level of funding for the duration of the current parliament. The changes will be rolled out over seven years from 2021 to help farmers adjust to the new system.