Member

The third important context is the tapering away of the temporary pandemic relief for high street businesses. The previous Government went into the election with plans to withdraw that relief overnight in 2025. That would have been a harsh and sharp removal of support, pushing up bills for independent high street businesses overnight by 300%. That is reckless and irresponsible. Instead, we have taken a different approach. We extended the retail, hospitality and leisure relief this year—it is set at 40%—and we are unwinding it over the coming years. The jumping-off point for any business currently receiving a 40% discount is its current bill, not its bill without relief.