Autumn Statement 22: Government unveils £13.6bn package to support business rates payers

Business rates bills to be less than 1%

The government has unveiled a £13.6bn to support companies dealing with higher business rates bills, including freezing the business rates multiplier for another year, saving £9.3bn over the next five years.

In the Autumn Statement released today (17 November), the Treasury confirmed that as a result of the package, the total increase in business rates bills will be less than 1%, compared to over 20% without intervention.  Other measures in the package included extended and increased relief for retail, hospitality and leisure businesses, worth almost £2.1bn.  Autumn Statement 22: Hunt vows to weather economic 'storm' and 'work together' with BoE The government will be reforming Transitional Relief to address the 'Bricks v Clicks' tax imbalance, which means that for businesses seeing lo...