The Budget is here and the Chancellor has just announced that he is cutting business rates by a third for all retailers in England with a rateable value of £51,000 or less.
Whilst this is welcome help for small retailers in England, it's important to note that rates are devolved in Wales, and the relief does nothing to help large multiple retailers whose presence on the High Street can often drive footfall to the surrounding areas.
It's also interesting to note the £675m "Future High Streets Fund" for local councils- some initiatives have failed in the past and so hopefully the fund can be well managed and equally distributed to help regenerate town centres.
Ultimately, whilst this is welcome news for many small retailers, it won't do much to relieve the pressure on large retailers- only reform will do.
The Chancellor promises to help small shops by cutting business rates by a third for all retailers in England with a rateable value of £51,000 or less.