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Wholesale Trade: Business Rates

Question for Treasury

UIN 1324, tabled on 14 May 2021

To ask the Chancellor of the Exchequer, what assessment his Department has made of the economic effect on the wholesale sector of the time taken to start the new business rates relief fund.

Answered on

21 May 2021

The Government has announced a £1.5 billion pot of additional business rates relief for businesses affected by the COVID-19 pandemic that have not otherwise been eligible for existing reliefs. The statement by the Minister of State for Regional Growth and Local Government of 25 March 2021 explained the relief will be allocated to local authorities based on the stock of properties in the area and the sector-specific economic impacts of COVID-19.

Formal guidance will follow in due course, setting out the specific considerations that Local Authorities (LAs) should have regard for when providing relief. Relief will be for LAs to award on a discretionary basis. Funding will be available once the legislation relating to material change in circumstance provisions has passed and LAs have established their own local relief schemes. The Government will support LAs to do this as quickly as possible, including through new burdens funding.

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