Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, what assessment his Department has made of the potential impact of planned increases in business rates for small retailers.

Against the current fiscal backdrop, the Government is clear that changes to the business rates system should be affordable and sustainable. It is not realistic to continue this support indefinitely. Without any Government intervention, Retail Hospitality and Leisure (RHL) relief would have ended in April, creating a cliff-edge for businesses.

We are providing support for retail, hospitality and leisure properties in the interim period leading up to the new permanent multiplier by providing 40% relief to RHL businesses on their business rates in 2025-26, up to a cash cap of £110,000 per business.  For example, we are freezing the small business multiplier and protecting over a million properties from inflationary bill increases.

HMT are conducting engagement on future business rate reform and are encouraging stakeholders to provide written evidence prior to March 2025. This will provide any sized retailer to share their concerns directly with HMT.