To ask His Majesty's Government what plans they have to reduce the business rate multiplier in England and Wales.
Answered on
13 September 2023
At the Autumn Statement 2022, the Government announced a freeze to the business rates multiplier for 2023-24, a tax cut worth £9.3 billion over the next five years. This was the third consecutive year the multiplier has been frozen, protecting businesses from inflationary pressures at an overall cost of £14.5 billion.
Business rates are an essential form of funding for local government to provide vital public services.
The Government keeps all taxes under review.
Answered by
Treasury