Valuations are carried out by independent assessors. The average increase as a consequence of those valuations across businesses was 12.2 per cent over a three-year period. We recognise that, although some ratepayers will see their rateable values fall, a number will see significant increases, and we have met assessors and businesses to address those concerns.

That is why the draft budget set out our plans to lower the basic, intermediate and higher property rates for 2026-27 and to provide transitional relief schemes that are worth more than £320 million to deliver support to businesses that need it.