- Friday, April 19, 2024
By: Pramod Thomas
BUSINESSES in England, which are hit hard by the COVID-19 pandemic, are set to receive a discount of £9.7 billion on their rates bills this financial year, shows the latest statistics published by the government.
As part of a comprehensive package to support businesses during the pandemic, firms such as eligible shops, restaurants, cafes and pubs will pay no business rates in this financial year across England, the data published on 22 April shows.
The support came after budget 2020 increased business rates retail discount to 100 per cent from 50 per cent for 2020 to 2021. The government has committed to compensating local authorities in full for the business rate relief with payments due to begin shortly, an official statement said.
The government also announced extra funding of £3.2 billion to councils to support the needy. This includes getting rough sleepers off the street, supporting new shielding programmes for clinically extremely vulnerable people and assistance for public health workforce and fire and rescue services.
“Through working with local authorities, we are giving businesses the support that they need during this national emergency; an unprecedented nearly £10 billion in business rates relief,” says local government secretary Robert Jenrick.
“The government was clear that we would do whatever it took to support local business and that is exactly what we are doing. We stand behind them and their employees as we work to protect the NHS and save lives.”
Minister for local government Simon Clarke said: “It is great that councils estimate they will provide almost £10 billion in additional business rate relief this financial year. This will provide businesses with a much-needed boost at this unprecedented time and builds on over £6 billion already awarded to business in grants announced earlier this week.”
Businesses do not need to take any action as their local council will apply the discount automatically, the statement further said.
