Budget 2021: Rishi Sunak announces one-year 50% cut in business rates

Chancellor Rishi Sunak announced a 50 per cent cut in business rates for the hospitality, retail and leisure sectors in Budget 2021 as part of a group of measures to help businesses still struggling through the pandemic.

The tax cut for these three sectors came as part of a package of measures Sunak announced to support struggling pubs in the UK.

However, the chancellor stopped short of giving businesses their wish of overhauling the entire system of the widely disliked tax.

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