HC Deb 28 November 1995 vol 267 cc1069-70

First is help with business rates. Many businesses faced lower rates bills following the five-yearly revaluation of rateable values, but many others faced higher bills. To help that group, I announced in last year's Budget that real terms increases in rates bills would be capped to a maximum of 10 per cent. a year. I have looked at that cap again and I no longer consider it to be low enough. For 1996–97, the maximum real terms increase in rates bills for all businesses will be reduced from 10 per cent. to 7½per cent. Small businesses will get extra help. The maximum increase for small properties will be 5 per cent. instead of 7½ per cent. One million two hundred thousand business properties will benefit from those changes, including 870,000 small properties.