Hope for the UK high street as Chancellor announces cuts to business rates for small retailers

Business rates to be cut by a third in a bid to reinvigorate the UK high street.

Small retailers in the UK are set to receive a boost from the government after the Chancellor announced he will cut business rate bills by a third as part of a £1.5bn spending pledge to help the embattled high street.

The new cuts, part of the autumn budget, will affect almost half a million high street businesses, with small retailers with a property rental of up to £51,000 the main focus of the business rate relief.

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