PARLIAMENTARY WRITTEN QUESTION
Public Houses: Newcastle-under-Lyme (17 July 2024)

Eligible retail, hospitality and leisure properties currently benefit from 75 per cent business rates relief, up to a cash cap of £110,000 per business for 2024-25. The small business multiplier is frozen at 49.9p for 2024/25.

The government identified that the current business rates system disincentivises investment, creates uncertainty and places an undue burden on our high streets. In England, the government will replace the business rates system, so we can raise the same revenue but in a fairer way.

The British Business Bank supports SMEs to grow by improving their access to finance, through the Growth Guarantee Scheme which offers a 70% government guarantee on loans.

We will establish Skills England which will have a new partnership with employers at its heart and will reform the apprenticeship levy, a key ask of hospitality businesses.