The UK Government plans to reduce electricity bills for over 7,000 businesses, yet tax experts warn that new business rates reforms could impose a significant cost of £685 million on the same firms. A new levy will affect around 4,300 large industrial properties starting April 2026, aiming to fund tax breaks for retail and hospitality sectors. Experts criticize this dual approach, saying it undermines competitiveness rather than enhancing it, as businesses may ultimately face higher overall costs despite initial savings in energy.
"it's perverse to then ask those very same businesses to foot the bill for high street tax cuts through higher business rates from 2026, a year before the energy support will come into effect."
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