Question to the HM Treasury:
To ask Her Majesty's Government what assessment they have made of how much money hospitality businesses are forecast to save from the 50 per cent business rate reduction during the 2022–23 financial year.
Businesses in the retail, hospitality, and leisure sector will receive a tax cut worth almost £1.7 billion in 2022-23. This builds on over £16 billion of business rates support already provided to the retail, hospitality, and leisure sectors throughout the pandemic, including a £10 billion business rates holiday for 2020-21 and a scheme worth £6 billion in 2021-22.