No Further Support for Business Rates: What the silence in the Spring Statement means for businesses
We’re now a week on from the Spring Statement delivered by Rachel Reeves on 3rd March, and as the dust settles, the silence on no further action or changes to business rates since the pubs and music venues discount in January is deafening.
Since the Autumn Budget in November last year, alongside the release of the draft rating list, over 1.8m commercial properties will see a rise in business rates increase once 1st April arrives. In some sectors, such as hospitality, rises are particularly stark, with over 1,900 hotels facing at least a doubling of their Rateable Value. Some even seeing an increase of over 600%.
For months, businesses, trade bodies, lobbyists and MPs voiced concerns about the impact of these increases, warning of the consequences should no further assistance be provided to mitigate rising costs. The argument is straightforward: without relief or reform, the pressure of business rates could prove unsustainable for many businesses to expand or continue.
Some Respite Offered, but Only for Pubs and Music Venues
There was a degree of optimism in January, when sustained pressure from pub owners, tenants and trade groups led to Government action aimed at protecting pubs and music venues in the 2026 rating list. The Government’s response was to introduce a 15% discount on business rates, alongside a two-year freeze on rate bills starting from 1st April this year.
While this measure was widely welcomed as a step in the right direction, it prompted debate. The discount equates to an average saving of around £1,560 over the next year or in some cases, merely offsetting planned increases rather than delivering a meaningful reduction. For pubs and music venues facing substantial rises, the relief may feel more like a temporary cushion than a strong solution.
In the lead-up to the Spring Statement, many anticipated or hoped for further announcements whether in the form of additional discounts or broader reform. However, beyond restating the existing support for pubs and music venues, the Spring Statement offered little in the way of new measures relating to business rates.
What does the Government’s Silence Signify?
The Spring Statement may have been intended as a routine update rather than a platform for reform yet hearing no news or changes to business rates, just when thousands of commercial ratepayers needed some, will surely be a disappointment.
In previous parliamentary terms, the Spring Statement (previously the Spring Budget) often provided an opportunity to adjust or refine measures introduced in the November Budget. The current Government, however, has committed to delivering a single major fiscal event each year, positioning the Spring Statement as an update on economic forecasts.
With no business rates reforms discussed during the Spring Statement, it shows that the changes in place for the 2026 revaluation and rating list are central to the Government’s growth and strategy. Nevertheless, with no additional changes or reforms announced, the 2026 rating list remains on course to be one of the costliest to date.
It is also important to recognise that business rates are not the only tax to increase for businesses recently. Rises in National Insurance (NI) contributions and the National Minimum Wage are adding to the cost burden. For many businesses, it is the combined weight of these measures – rather than any single policy – that is shaping decisions for the years ahead.
RVA Surveyors Thoughts
“Businesses Across all locations and sectors are continuously facing increasing costs” says Anthony Hughes, Managing Director of RVA Surveyors. “And with no further support announced from the Government, the burden commercial ratepayers already experience will weigh even heavier.”
“But Business Rates are the one tax that can be challenged and reduced. Unlike many of the other increases, ratepayers could see a reduction in liabilities by reviewing their business rates and reduce a huge part of the businesses overhead costs.”
It’s not only the lack of support and increasing costs that will affect commercial ratepayers in the new rating list, as thousands still await to hear from the Valuation Office Agency (VOA) regarding their submission.
“Between October and December 2025, the VOA confirmed there were still over 15,000 ‘Checks’ and 23,000 ‘Challenges’ to be cleared in respect of the 2023 rating list” says Josh Leyland, RVA’s Senior Business Rates Manager. “With the deadline of 31st March 2026 looming to submit a Check, submission numbers unsurprisingly increased by almost 20% when compared to three months previous.”
And now with no further assistance from the Government before the start of the 2026 revaluation and potential backlog from the 2023 rating list, Leyland affirms that “appeals for the 2026 rating list should be submitted as early as possible.”
Review your Business Rates with RVA Surveyors
RVA Surveyors are the UK’s leading independent business rates reduction specialists, having reviewed over 50,000 properties and secured more than £400 million in savings for commercial ratepayers. Through RVA’s four-step process, our specialist teams manage the entire review and appeal process with minimal disruption – and if there are no grounds for a reduction, there is no fee for our services.
