Autumn Statement 2013: Osborne to cap business rate rises at 2% next year

George Osborne is set to cap business rate rises to 2% in the Autumn Statement tomorrow.

Based on September’s retail price index’s measure of inflation, business rates were expected to rise by 3.2% next year.

The Chancellor will although cap business rates in England and Wales but reject calld for a review of the system, the BBC has reported.

Osborne is also expected to extend a scheme that offers rate relief to small businesses and pledge an extra £250m for the British Business Bank.

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