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Business rate cap expected in Autumn Statement

The Chancellor is today expected to announce plans to extend the 2% cap on business rates by another year as part of the Autumn Statement.

Retailers will welcome the news that will halt a 2.3% rise due April 2015, in line with the September increase in the retail prices index.

However, George Osborne has come under pressure from several groups, including the Confederation of Business Industry, to link increases to the consumer prices index (CPI) measure of inflation, which would see it capped at 1.2%.

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