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United Kingdom · Question · Written question

UIN 190868

Retail Trade: Interest Rates

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answeredUnited Kingdom· UK Parliament· EN

Introduced

22 June 2023

Last action

29 June 2023 · Answer

Status

Answered

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Discovery layer

Source updated

29 June 2023

Summary

To ask the Secretary of State for Business and Trade, if she will make an assessment of the potential impact of the increase of the Bank of England base rate to five per cent on high street businesses.

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Timeline

  1. 22 June 2023

    Written question

    To ask the Secretary of State for Business and Trade, if she will make an assessment of the potential impact of the increase of the Bank of England base rate to five per cent on high street businesses.

    Source: Commons

  2. 29 June 2023

    Answer

    Government recognises the pressures faced by businesses because of increased rates, which is why the Autumn Statement 2022 announced a package of changes to business rates worth £13.6bn over the next 5 years in lower bills. This includes a freeze to the m...

    Source: Written answer

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