PARLIAMENTARY WRITTEN QUESTION
Business Rates: Coronavirus (18 May 2020)

To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of raising the £51,000 business rates limit for covid-19 support grants for businesses in line with the variation in property values in England.

Asked by:
Fleur Anderson (Labour)

The business grants schemes have been designed to help small businesses. £51,000 is the accepted threshold in the business rates system for a “small” business, as only businesses which occupy properties with a rateable value of less than £51,000 can benefit from the Small Business Multiplier rate. This threshold applies across England, thus providing a straightforward existing basis which Local Authorities can use to issue grants.

Larger businesses may have access to other forms of support which the Government has announced, such as the Coronavirus Business Interruption Loan Scheme and the Coronavirus Job Retention Scheme. In addition, there is no rateable value limit on the business rates holiday for the retail, hospitality and leisure sectors.

The Government continues to monitor the economic situation and is keeping support for businesses and other organisations under review.

Answered by:
Jesse Norman (Conservative)
2 June 2020