Anthony Browne: HMT: All Documents

Written Question

Business Rates

Monday 23rd January 2023

Asked by: Anthony Browne (Conservative - South Cambridgeshire)

To ask the Chancellor of the Exchequer, whether his Department has made an assessment of the impact of business rates tax on online shops.

Answered by Victoria Atkins - Secretary of State for Health and Social Care

At Autumn Statement 2022, the Government announced a package of changes and tax cuts worth almost £13.6 billion over the next five years, including:

a freeze to the business rates multiplier for 2023-24, a tax cut worth £9.3 billion over the next 5 years, meaning all bills are 6 per cent lower than without the freeze;
an Exchequer funded Transitional Relief scheme worth £1.6 billion to protect an estimated 700,000 ratepayers facing bill increases due to increases in rateable value. The Government has announced that it will permanently scrap ‘downwards caps’ which had restricted falling bills in previous schemes. This will benefit around 300,000 ratepayers who will see their full bill decrease from April 2023.
an increased 75 per cent relief for retail, hospitality and leisure (RHL) properties, up to a cash cap of £110,000 per business for 2023-24. This is a tax cut worth over £2 billion for around 230,000 RHL businesses, to support the high street and protect small shops.
providing over £500 million of support over the next three years with a new Supporting Small Business. This will cap bill increases to £50 per month (£600 per year) for businesses losing some or all of their Small Business or Rural Rate Relief due to the revaluation.

Together with the revaluation, this package ensures bills will more accurately reflect current market values whilst protecting businesses from large bill increases.

Speech in Commons Chamber - Wed 30 Nov 2022
Finance Bill

Speech Link

View all Anthony Browne (Con - South Cambridgeshire) contributions to the debate on: Finance Bill

Speech in Commons Chamber - Mon 28 Nov 2022
Finance Bill

Speech Link

View all Anthony Browne (Con - South Cambridgeshire) contributions to the debate on: Finance Bill

Speech in Commons Chamber - Mon 21 Nov 2022
Autumn Statement Resolutions

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View all Anthony Browne (Con - South Cambridgeshire) contributions to the debate on: Autumn Statement Resolutions

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