Non-domestic Rates: Small Businesses

Treasury written question – answered on 1st November 2018.

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Photo of Chi Onwurah Chi Onwurah Shadow Minister (Department for Business, Energy and Industrial Strategy) (Industrial Strategy)

To ask the Chancellor of the Exchequer, with reference to the Budget 2018, how the reduction in business rates for small businesses will be funded.

Photo of Mel Stride Mel Stride Financial Secretary to the Treasury and Paymaster General

Local authorities will be fully compensated by the Exchequer for the loss of income as a result of the business rates measures announced at Budget.

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