Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether transitional relief in the 2026 business rates revaluation will be funded by (a) the Exchequer, (b) higher multipliers, and (c) downward phasing.

The Government provides transitional relief to support ratepayers seeing large bill increases as a result of revaluations.

Only once we understand the complete 2026 revaluation picture will the Government be in a position to make final decisions, at Budget 2025, on the transitional relief scheme.