Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether he has plans for business rate reform in the next calendar year.

We have published the conclusion of the Business Rates Review, which sets out our plans for reform, at the Budget.

For example, the Review announces significant new measures to reduce the burden of business rates on firms, including freezing the multiplier in 2022-23, saving ratepayers £4.6bn over the next five years. We are providing a new temporary relief worth almost £1.7 billion for eligible retail, hospitality, and leisure businesses in England. We are also providing support worth almost £750m over the next five years for businesses to improve and decarbonise their properties.

The Review also commits to changes to improve the business rates system, through a commitment to deliver more frequent revaluations. We will deliver a 3-yearly revaluations cycle from 2023.