Business Rates Review

(asked on 6th July 2022) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment he has made of the implications for his policies of the business rates review.


Answered by
Lucy Frazer Portrait
Lucy Frazer
Secretary of State for Culture, Media and Sport
This question was answered on 12th July 2022

With the conclusion of the Business Rates Review, the Government has delivered meaningful reform and cuts worth £7 billion to business over the next five years.

The review has implemented significant new measures to reduce the burden of business rates on firms, including a freeze in the multiplier, new support for improvements and green technology, and further relief for high street businesses. The Government is committing to more frequent revaluations, which represents significant reform of the system and will ensure that liabilities are more responsive to changing market conditions. This addresses key asks of stakeholders for more frequent revaluations and for a reduction of the burden of business rates to make the system fairer.

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