UK to Freeze, Reduce Business Rates for Retail, Hospitality Properties

11:23 AM EDT, 10/28/2026 (MT Newswires) -- The UK government plans to implement measures that will help freeze, reduce, or eliminate business rates for an additional 70,000 local retail, hospitality, and leisure businesses. The government's commitments include increasing the Small Business Rates Relief threshold and carrying out a two-year real-terms freeze in business rates bills, according to a Wednesday release. The initiative falls under the UK's recently announced 2026 Budget, partly aimed at supporting the growth of domestic businesses.