Truss plans to cut business rates in face of energy crisis

The Tory frontrunner could extend business rates relief to thousands more businesses in order to help with energy bills.

It is thought that the new government could extend the threshold for relief to those businesses with a rateable value from £15,000 to £25,000.

Truss has been discussing plans with industry lobbyists as she prepares for the possibility of being made prime minister next week.

Chancellor Nadhim Zahawi has also met with representatives after calls for business rates reform.

Truss is receptive to the idea as it would feed into the government’s ‘levelling up’ agenda – the relief would help more businesses in the North and the Midlands than around London.

Federation of Small Businesses chief of external affairs Craig Beaumont said: “We are increasingly confident that business rates are on Liz Truss’ radar.

“We like that she’s talked about small businesses and self-employed individuals, and the decisions on National Insurance contributions.”

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