Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment his Department has made of the impact of the reduction in the business rates multiplier from 2016-17 to 2017-18 on total income received.

The business rates multiplier is adjusted at each revaluation to offset changes in aggregate rateable value in England. This process is revenue neutral and ensures that business rate revenue remains fixed in real terms.

At the 2017 revaluation the multiplier was reduced to 46.6p in 2017-18 from 48.4p in 2016-17. The reduction in the rate of the multiplier reflected an aggregate increase in rateable value in England of 9.6 per cent.

Business rates raise over £20 billion a year in England to fund vital local services - there is no alternative with widespread support that would raise sufficient revenue to replace them.