Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what assessment the Government has made of the potential merits of increasing Small Business Rate Relief for businesses in London.

The Government announced at Budget 2016 a £6.7 billion business rates reduction package benefitting all ratepayers, and recommitted to this at Autumn Statement 2016. This package includes permanently doubling and increasing the thresholds of Small Business Rate Relief from April 2017.

These reforms mean businesses, including those in London, with a property with a rateable value of £12,000 and below will receive 100% relief. Businesses with a property with a rateable value between £12,000 and £15,000 will receive tapered relief.