Economic Update

Felicity Buchan Excerpts

Tuesday 17th March 2020 Commons Chamber

[Rishi Sunak]

Again, the measures that we took last week to strengthen our security net will benefit those who are self-employed and sole traders. Those with properties that qualify for business rate relief will benefit from that and cash grants will also flow to those people.

[Felicity Buchan (Kensington) (Con)]

This morning in the Treasury Committee, we asked the Chancellor to throw the kitchen sink at the economy and I thank him because he has certainly done that. However, small businesses in my constituency of Kensington have an issue, because most of the business rate relief is funnelled only if the rateable value is under £51,000. But they are suffering in the same way as other businesses. Will the Chancellor look into that?

[Rishi Sunak]

I am pleased to tell my hon. Friend that, as a result of the measures I have taken today, any business in the retail, hospitality and leisure sector, regardless of its rateable value, will now qualify for 100% business rates relief for these next 12 months.