As anticipated, the government will abolish the Uniform Business Rate and allow local government to keep the rates they collect from business, give councils the power to cut business rates to boost growth, and give elected city-wide mayors the power to levy a business rates premium for local infrastructure projects – with the support of local business.

Helpfully, it will also extend the doubling of small business rate relief (SBRR) in England for 12 months to April 2017.