Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if she will consider introducing the maximum business rates discount for hospitality properties with a rateable value under £500,000 to support high street recovery.

In April 2026, the Government will introduce permanently lower business rates multipliers for retail, hospitality, and leisure (RHL) properties with rateable values (RVs) below £500,000. This permanent tax cut will ensure eligible RHL businesses benefit from much-needed certainty and support. The Government is sustainably funding this by introducing a higher tax rate on properties with RVs of £500,000 and above.

The final design, including the rates, for the new business rates multipliers will be announced at Budget 2025, so that the Government can factor the revaluation outcomes, as well as the broader economic and fiscal context, into decision-making.