John Healey will raise the threshold below which small businesses pay no business rates from £12,000 to £18,000 of rateable value, according to a report in the Sunday Times. The report has been relayed by the Standard and inews.
The threshold applies to firms such as high-street shops, cafes, pubs and hairdressers. Rateable value is the estimated annual rental value of a property, the Standard notes.
According to inews, Andy Burnham promised the same rise, from £12,000 to £18,000, over the summer.
The Times is reported to say the measure would be paid for by a crackdown on VAT on online marketplaces.
This is a Sunday-paper briefing. It has not been confirmed by the Treasury and has not been independently checked. The Chancellor delivers the Budget to the Commons on Wednesday 28 October.