Pharmacy: Business Rates
The question
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of between increased business rates on the level of closures of community pharmacies.
Answered by Dan Tomlinson
At the Budget, the Valuation Office announced updated property values from the 2026 revaluation. This revaluation was the first since the pandemic, which has led to significant increases in rateable values for some properties as they recover from the pandemic.
To respond to those who are seeing large increases, the Government has already acted to limit increases in bills, announcing a support package worth £4.3 billion package at the Budget.
Community pharmacies are also eligible for the new permanently lower multipliers for eligible retail, hospitality and leisure (RHL) properties introduced by Government. These new multipliers are worth nearly £1 billion per year and benefit over 750,000 properties.
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