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<p>The most recent review of business rates concluded at Autumn Budget 2021. The review
reaffirmed the importance of business rates for raising revenue for essential local
services and announced a £7 billion package of measures to support business over the
next 5 years.</p><p> </p><p>This includes a freeze to the business rates multiplier
in 2022-23, which will support all ratepayers, large and small, meaning bills are
3 per cent lower than without the freeze. The Government has also introduced a new
temporary relief for retail, hospitality, and leisure in 2022-23, worth almost £1.7
billion to the sector. These measures will support the businesses that make our high
streets and town centres successful.</p><p> </p><p>As with all taxes, HM Treasury
keeps business rates under review.</p>
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