Business Rates: Tax Yields
The question
To ask the Secretary of State for Housing, Communities and Local Government, what recent estimate he has made of gross business rate receipts in England in (a) 2024-25, (b) 2025-26, (c) 2026-27, (d) 2027-28 and (e) 2028-29.
Answered by Alison McGovern
The Department collects estimated business rates receipts data annually from local authorities, the most recent data available is for 2024-25, 2025-26 and 2026-27 and is available here.
Estimates of business rates receipts data for 2027-28 and 2028-29 have not been collected at this time. For the purpose of the Settlement, the government estimates the amount of an individual local authority’s Settlement allocation provided through the local share of business rates income. This is known as a Baseline Funding Level (BFL) which is the amount of funding that the Government determines that a local authority needs from business rates to deliver local services. The BFLs form part of Core Spending Power, core revenue funding available for local authority services through the local government finance settlement. In 2027-28 and 2028-29, BFLs will increase in line with an annual inflation measurement to reflect the annual uprating of business rates multipliers. An assumption of this was made in the multi-year Settlement to reflect this and published here.
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