Leisure and hospitality businesses have accused the government of being "unable to add up" after putting a GBP2 million cap on the business rates discount unveiled in the budget.
According to analysis by Gerald Eve, the property consultancy, the two-thirds discount announced by the chancellor is "an illusion" for many businesses because the cap has been imposed on businesses rather than individual properties.
Rishi Sunak said that, after the expiry of the rates holiday at the end of June, leisure and hospitality businesses and non-essential retailers would move to a two-thirds discount for the next nine months.
However, Gerald Eve says that the application of the cap to a whole business means the discount received by chains will be far lower.
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