Retail Trade: Business Rates — Written Question

Question

Sarah Olney

Liberal Democrat — Richmond Park

To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of rateable value increases and changes to business rates relief, announced at Budget 2025, on a) vacancy rates on local high streets, b) employment le

Answer

Dan Tomlinson

The amount of business rates paid on each property is based on the rateable value of the property, assessed by the Valuation Office Agency (VOA), and the multiplier values, which are set by the Government. Rateable values are re-assessed every three years...

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