Budget falls short on delivering fundamental business rates reform

The long-awaited decisions on the Business Rates Review missed the mark on delivering fundamental reform. However, some positive measures were announced, and a series of further consultations promise to address key issues ahead of the 2023 revaluation.

Some wins, but many important areas remain unresolved

The announcements today included a few important wins on business rates, but the Budget has nonetheless failed to deliver the wholesale reform that we have been calling for. The long-awaited final report on the Business Rates Review delivered on some aspects of the promised reform, but many more important areas remain unresolved, with further consultations expected in the coming months.

The move to 3-yearly revaluations is a welcome step forward. Many aspects of the process remain undecided, and the additional technical consultation on the details is welcome as many of you have shown a keen interest to engage with the process. We also welcome the p