Shops, pubs and restaurants could face £2.6bn rates rise.

Retail and hospitality companies may face a £2.66 billion increase in business rates from April, as experts warn current reliefs will end on 31 March. Alex Probyn from Altus Group highlighted the potential “cliff edge” for these sectors if the relief is not extended. Chancellor Rachel Reeves noted the need for “tough decisions” amid claims of a £22 billion public finance deficit.