Dunne welcomes announcement of a new business rates relief scheme for retail, hospitality, and leisure properties worth around £2.1 billion in 2023/24.
The new rates relief will support businesses across high streets and town centres in Shropshire, helping them to evolve, adapt and succeed in light of changing consumer demand.
The new scheme will provide occupied premises in retail, hospitality, and leisure with a 75% rates relief, up to a cash limit of £110,000 per business.
The Government will not change current legislation relating to relief on available properties. Instead, local authorities will be able to use their discretionary relief powers under section 47 of the Local Government Finance Act 1988 to grant relief.
Commenting on the announcement South Shropshire MP Philip Dunne said:
“I am pleased that for this next financial year, businesses across the county in our market towns and villages, can have certainty that their rateable values will be subject to a significant discount, helping businesses trade with confidence.
“Shropshire Council will administer the enhanced scheme locally, applying the 75% discount compared with 50% relief offered for 2022/23.
“Qualifying businesses will include shops, restaurants, cafes, pubs and bars, cinemas, or live music venues. Those in the leisure industry who have been contacting me also such as sports grounds and clubs, museums, nightclubs, theatres, gyms, public halls, and clubs will also benefit.
“The Chancellor has listened to appeals from small businesses, including several who had contacted me about the tax burden”.