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<p>The Government is committed to conducting a fundamental review of business rates
and will announce details in due course. The Government will also increase the business
rates retail discount from one-third to 50% in 2020/21 and extend eligibility to independent
cinemas and grassroots music venues for the first time.</p><p>This is on top of repeated
action taken by the Government to reduce the burden of rates by £13bn over the next
five years. This includes doubling the threshold for Small Business Rate Relief, meaning
675,000 of the smallest businesses pay no business rates at all, and switching from
RPI to the lower rate of CPI indexation which is worth over £6bn in savings to businesses.</p>
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