Why the business rates freeze is worse than the status quo for big retailers
Chancellor John Healey announced a “real-terms freeze” on business rates for shops in the Budget, capping rises in their bills at inflation for the next two years.
The 50 largest retailers in England will save about £10m next year from the freeze, according to Retail Week analysis. But a 1p surcharge that was due to end in April, and will now stay for two more years, will cost them about £70m.
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