(7 years, 12 months ago)
Commons ChamberWe are permanently doubling the level of small business rate relief from next year, meaning that 600,000 small businesses will pay no business rates at all. In addition, 17,000 pubs may be eligible for small business rate relief from 1 April next year, depending on their rateable value. Around 13,000 are potentially eligible for 100% relief, compared with some 4,000 now.
Before the review, we agreed a methodology with the industry through which the revaluations would take place, so that is why that mechanism is used.