Hunt, who laid out his long-awaited economy plan for the UK on Thursday (17 November), pledged £13.6 billion in tax cuts for companies over a period of five years and said a revaluation of rates would ago ahead from April 2023.
He said bills paid by businesses “should accurately reflect their market value”, promising two-thirds of properties “won’t pay a penny next year”.
Addressing MPs in Parliament, Hunt also promised a government-funded “transitional relief scheme” would be launched, which he claimed would benefit around 700,000 businesses.
