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<p>Our business rates tax cuts provide significant support to local businesses.</p><p>The
Small Business Rate Relief measure announced at the Budget which starts in 2017-18
will mean 600,000 of the smallest businesses will not have to pay business rates.
We will compensate local authorities, in full, for the loss of income as a result
of this measure, in the same way as we have done for every other reduction to business
rates we have made since the introduction of the business rates retention scheme.</p><p>We
will move to 100% business rates retention by the end of the Parliament and will establish
the scheme based on the amount of business rates available to authorities at the time,
which will naturally take account of increases and reductions in business rates yields,
including those resulting from measures announced at Budget 2016.</p>
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