Key facts
- Business rates relief thresholds for small businesses have been increased to £18,000.
- Business rates will be frozen for two years for retail, hospitality, and leisure businesses.
- Business owners argue that the measures are insufficient to address rising operational costs.
Chancellor John Healey has introduced measures to support high street businesses in his latest budget, including an increase in the threshold for small business rates relief to £18,000 and a cap on business rate increases for the next two years. These changes aim to alleviate cost pressures for retailers, hospitality venues, and leisure businesses. However, business groups and owners have voiced concerns that these adjustments are insufficient to address the fundamental challenges facing the sector, such as rising operational costs that outpace sales growth.