Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if she will carry out sector-specific impact assessments for proposed non-domestic rate multipliers ahead of the Autumn Budget 2025.

The business rates multipliers are set by Government.

From 2026-27, the Government intends to introduce permanently lower tax rates for retail, hospitality and leisure properties with rateable values (RVs) under £500,000. The Government intends to fund this by introducing a higher multiplier on properties with RVs of £500,000 or more.

The new business rates multipliers will be set at Budget 2025 so that the Government can take into account the upcoming revaluation outcomes as well as the economic and fiscal context. When the new multipliers are set, HM Treasury intends to publish analysis of the expected effects of the new RHL and higher multiplier arrangements.