The government pledged in the run-up to the general election in 2019 that there would be genuine reform of business rates and a “cut the burden of tax by reducing business rates” So far it has spectacularly failed its election pledge. The Chancellor did freeze the small business rate multiplier and bring in the retail, hospitality and leisure relief for small companies. It is estimated that this will impact 220,000 businesses who will pay an extra burden of £1.66bn in tax from April 1, 2024.