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<p>The Government concluded the last fundamental review of business rates in 2016.
Respondents to the review agreed that property based taxes are easy to collect, difficult
to avoid, relatively stable compared to other taxes, and that they have a clear link
with local authority spending.</p><p> </p><p>The Government has taken repeated action
to reduce the burden of business rates for all ratepayers including retailers. Our
Plan for the High Street announced at Budget 2018 provides £1 billion of upfront support
through a new retail discount, cutting retailers’ business rates bills by a third
for two years from 1 April 2019 subject to eligibility.</p><p> </p><p>Reforms and
reliefs announced since Budget 2016 are reducing business rates by more than £13 billion
over the next five years. This includes switching from RPI to CPI indexation, increasing
the threshold for the standard multiplier to £51,000, and doubling the threshold for
Small Business Rate Relief, meaning 675,000 of the smallest businesses pay no business
rates at all.</p>
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