John Baron MP welcomes new £1.5 billion Business Rates Relief pot

MP highlights assistance for businesses so far ineligible for support

The Government has set out plans for an extra and targeted support package for those businesses which have been unable to benefit from the existing £16 billion business rates relief for retail, hospitality and leisure businesses, which have not been paying any rates during the pandemic in line with the 15-month relief which runs out in June. Many of those ineligible for reliefs have been appealing for discounts on their rates bills, arguing that the coronavirus represented a ‘material change of circumstance’. The Government is legislating to rule out covid-19-related appeals, as this could have led to taxpayer support going to businesses which have been able to operate normally during the pandemic. Instead, the Government is providing a £1.5 billion pot which will be distributed according to which sectors have suffered most economically, rather than on the basis of falls in property values, ensuring this support is provided to businesses in the fastest and fairest way possible. This pot will be allocated to local authorities based on the stock of properties in the area whose sectors have been affected by the pandemic. Local authorities will use their knowledge of local businesses and the local economy to make awards.

John said,

“The Government has taken extensive steps throughout this pandemic to support businesses and protect jobs. However, not all businesses have been able to benefit from the various support schemes, so I welcome this extra support which will assist businesses in need which have so far been ineligible for business rates relief, and as quickly as possible.”