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<p>Eligible retail, hospitality and leisure properties currently benefit from 75 per cent business rates relief, up to a cash cap of £110,000 per business for 2024-25. The small business multiplier is frozen at 49.9p for 2024/25.</p><p> </p><p>The government identified that the current business rates system disincentivises investment, creates uncertainty and places an undue burden on our high streets. In England, the government will replace the business rates system, so we can raise the same revenue but in a fairer way.</p><p> </p><p>We will establish Skills England, a new partnership with employers at its heart and reform the apprenticeship levy, a key ask of hospitality businesses.</p><p> </p><p>The English Devolution Bill will establish a new framework for English devolution. It will give local leaders the tools they need to drive growth, including empowering communities with a strong new ‘right to buy’ for valued community assets, such as empty shops and pubs.</p> |