Non-domestic Rates

(asked on 28th March 2022) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to the rise in the cost of living, if he will make an assessment of the potential merits of business rate reform.


Answered by
Lucy Frazer Portrait
Lucy Frazer
Secretary of State for Culture, Media and Sport
This question was answered on 4th April 2022

The Government concluded the review of the business rates system and published their final report as part of Autumn Budget 2021. The Review set out significant new measures, worth £7 billion over the next 5 years, to reduce the burden of business rates on firms, including a freeze in the multiplier, new support for improvements and green technology, and further relief for high street businesses. The Government are also committing to more frequent revaluations, which represents fundamental reform of the system, and will ensure that liabilities are more responsive to changing market conditions.

The announcements made at Autumn Budget 2021 build on over £16 billion of business rates support already provided to the retail, hospitality, and leisure sectors throughout the pandemic, including a business rates holiday for 2020-21 and a scheme worth £6 billion in 2021-22.

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