Melanie Leech, Chief Executive at the British Property Federation, said:

“The Government has delivered on its promise to act quickly to provide support to businesses across the UK facing crippling energy price rises. However, vulnerable sectors will need further targeted support and the Business Secretary must continue look at all options, including measures to reduce the unsustainable burden of business rates. Now is the time to freeze the business rates multiplier for the next financial year to avoid significant inflationary uplifts and make sure that businesses whose rates are being reduced because of the last revaluation get the benefit of this reduction straight away.”

The property sector supports 1 in 13 UK jobs and contributed more than £100 billion to the UK economy in 2019.