Published by Global Banking & Finance Review®
Posted on November 4, 2025
1 min readLast updated: January 21, 2026
Add as preferred source on GoogleRachel Reeves plans to reform UK business rates to support small businesses, focusing on growth in her upcoming budget.
LONDON (Reuters) -British finance minister Rachel Reeves said on Tuesday her November 26 budget would focus on growth, including reforms to the business rates system aimed at easing pressure on physical shops and small businesses.
"The current business rate system was designed for a previous age, not for a digital age," Reeves, in a rare pre-budget speech, said. "And so we've been reforming the business rate system to hopefully give a bit more comfort to small businesses and high street businesses as well."
(Reporting by Sarah Young, writing by Sam Tabahriti)
A budget is a financial plan that outlines expected income and expenses over a specific period, helping individuals or organizations manage their finances effectively.
Small businesses are crucial for economic growth as they create jobs, foster innovation, and contribute to local communities, making up a significant portion of the economy.
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