Retail Trade: Non-domestic Rates

(asked on 30th June 2021) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment he has made of the effect of the level of business rates on retail unit vacancy.


Answered by
Jesse Norman Portrait
Jesse Norman
This question was answered on 7th July 2021

Eligible businesses in the retail sector have paid no business rates in the 15 months to 1 July 2021, and over 90% of businesses will have their rates bills cut by 75% across the year in 2021-22. The Government has also decided to freeze the business rates multiplier in 2021-22, saving businesses in England an estimated £575m over the next five years.

The Fundamental Review of Business Rates will consider ideas for reform on all elements of the business rates system and the Review will conclude in the autumn.

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