Retail Trade: Small Businesses

(asked on )

Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what fiscal support the Government provides to small businesses on high streets affected by trends related to online retail.


Answered by
Mel Stride Portrait
Mel Stride
Secretary of State for Work and Pensions
This question was answered on 7th February 2018

The government recognises business rates can represent a high fixed cost for small businesses on our high streets. This is why at Autumn Budget 17 the Chancellor announced cuts of £2.3bn to support businesses and improve the fairness of the business rates system.

This builds on both Spring Budget 2017 which provided £435m of support following the recent revaluation; and Budget 2016 which announced major reforms worth almost £9bn over five years, including permanently doubling Small Business Rate Relief.

On the issue of online retail, the government is currently reviewing the wider taxation of the digital economy. This includes ensuring international corporate tax rules deliver fair results across different businesses and that sellers operating through online marketplaces pay the right amount of VAT.

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