Member

The noble Baroness will appreciate that we do not yet know the impact, as the tax rates for the new multipliers are not yet set, and nor has the 2026 revaluation progressed sufficiently. The Treasury has committed to producing, once that information is in place, an analysis of the new multipliers. It will do that when the tax rates are set at the Budget later this year. We have given that commitment. The Bill includes sensible parameters on the setting of the new multipliers and sets out that the new lower RHL multipliers cannot be set more than 20p below the small business multiplier.