Our business rates tax cuts provide significant support to local businesses.<\/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>
In addition, from April 2020, the annual indexation of business rates will be changed from RPI to be consistent with the main measure of inflation, currently CPI. The impact on local authority revenues, post-2020, of this and the other changes announced at the Budget will be considered as part of the Government\u2019s work with the sector on implementing 100 per cent business rate retention.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4024", "label" : {"_value" : "Biography information for Mr Marcus Jones"} } , "answeringMemberConstituency" : {"_value" : "Nuneaton"} , "answeringMemberPrinted" : {"_value" : "Mr Marcus Jones"} , "dateOfAnswer" : {"_value" : "2016-04-11", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2016-04-11T17:13:58.05Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "7"} , "answeringDeptShortName" : {"_value" : "Communities and Local Government"} , "answeringDeptSortName" : {"_value" : "Communities and Local Government"} , "date" : {"_value" : "2016-03-22", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Non-domestic Rates"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Secretary of State for Communities and Local Government, under what criteria local authorities will be compensated for the change in the updating of business rates from RPI to CPI.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/394", "label" : {"_value" : "Biography information for Mr Clive Betts"} } , "tablingMemberConstituency" : {"_value" : "Sheffield South East"} , "tablingMemberPrinted" : [{"_value" : "Mr Clive Betts"} ], "uin" : "32161"} , {"_about" : "http://data.parliament.uk/resources/483307", "AnsweringBody" : [{"_value" : "Department for Communities and Local Government"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/483307/answer", "answerText" : {"_value" : "
These tax cuts provide significant support to local businesses. The Small Business Rate Relief measure announced at the Budget will mean 600,000 of the smallest businesses will not have to pay business rates.<\/p>
Local authorities will be compensated in full for their loss of income as a result of these changes.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4311", "label" : {"_value" : "Biography information for Baroness Williams of Trafford"} } , "answeringMemberPrinted" : {"_value" : "Baroness Williams of Trafford"} , "dateOfAnswer" : {"_value" : "2016-04-13", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2016-04-13T15:20:24.017Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "7"} , "answeringDeptShortName" : {"_value" : "Communities and Local Government"} , "answeringDeptSortName" : {"_value" : "Communities and Local Government"} , "date" : {"_value" : "2016-03-21", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Non-domestic Rates"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty\u2019s Government what assessment they have made of the financial effect of the Budget announcement of changes to business rates relief on (1) local government across England, (2) councils in South Yorkshire, and (3) Sheffield City Council.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4333", "label" : {"_value" : "Biography information for Lord Scriven"} } , "tablingMemberPrinted" : [{"_value" : "Lord Scriven"} ], "uin" : "HL7231"} , {"_about" : "http://data.parliament.uk/resources/480622", "AnsweringBody" : [{"_value" : "Department for Communities and Local Government"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/480622/answer", "answerText" : {"_value" : "
Local authority estimates of business rates yield for 2016-17 are available at:<\/p>