Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether the transitional relief scheme for the 2026 business rates revaluation will be financed by (a) direct funding, (b) downward phasing and (c) a higher multiplier.

The Government is legally required to introduce transitional relief for ratepayers to support those seeing the biggest increases at revaluations.

The Non-Domestic Rating Act 2023 removed the requirement for transitional relief schemes to be self-funding.

Only once we understand the complete 2026 revaluation picture will the Government be in a position to make final decisions, at Autumn Budget 2025, on the transitional relief scheme