Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what business rates will be in each of the next five years.

The Government froze the business rates multiplier for a third consecutive year in 2023-24, a tax cut worth £9.3 billion to business over the next 5 years. Overall, the Government has taken action to hold the tax rate steady, protecting businesses from inflationary pressures over the last three years at a cost of £14.5 billion to the Exchequer.

Decisions on future business rates support will be made in due course.