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<p>The Chancellor announced at the 2014 Autumn Statement an extra £650 million of
support for 2015-16 business rates bills, bringing the total support from 2013 and
2014 Autumn Statement polices in 2015-16 to £1.4 billion. Autumn Statement 2014 help
includes:</p><p> </p><ul><li>doubling small business rate relief for a further year.
In England, this means an estimated 385,000 properties will pay no rates at all, while
a further 190,000 properties will benefit from tapered relief.</li><li>a 2% cap on
the increase of the small business rates multiplier. This is a continuation of the
2% cap introduced in 2014-15 as part of Autumn Statement 2013 measures;</li><li>increasing
the temporary £1,000 discount for shops, pubs and restaurants with rateable values
below £50,000 to £1,500 for 2015-16, benefitting an estimated 300,000 properties in
England; and</li><li>extending the existing transitional relief scheme for two years
for properties with a rateable value up to and including £50,000.</li></ul><p> </p><p>These
policies are in addition to previous Autumn Statement measures that continue into
2015-16, including:</p><p> </p><ul><li>a 50 per cent discount for 18 months to new
occupants of vacant shops;</li><li>allowing businesses to keep their small business
rate relief for a year where they take on an additional property; and</li><li>business
rates relief for empty new builds.</li></ul><p> </p><p>Central Government also now
funds 50% of any local discount granted.</p><p> </p><p>The Department does not collect
data on a constituency basis, but Hendon constituency lies entirely within the boundary
of the London Borough of Barnet. In addition to this, local authority level data is
not yet available for the number of properties that will benefit from Autumn Statement
2014 measures in 2015-16. The attached table shows the number of properties in 2014-15
within the boundary of the London Borough of Barnet that benefit from business rates
measures extended in this year’s Autumn Statement.</p>
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