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UK Budget 2026: What it means for businesses
The 2026 UK Budget includes a range of measures affecting businesses, from support for investment, manufacturing and energy costs to changes in business rates and employment costs. We look at the key announcements and what they could mean for BATF members.
Budget sets out measures to support UK businesses
The Government has published its 2026 Budget, setting out measures intended to provide support for businesses while encouraging investment and longer-term economic growth.
UK Budget 2026: What it Means for Businesses
The 2026 UK Budget sets out a range of measures affecting businesses, including support with energy costs and business rates, investment and international trade. For businesses across BATF’s industries, including manufacturing, jewellery, retail and the wider allied trades, there are several announcements worth noting.
Support for manufacturers
The Budget includes continued action to address industrial electricity costs. From 2027, the British Industrial Competitiveness Scheme is expected to reduce electricity costs for eligible manufacturers by providing relief from certain policy costs included in electricity bills. Eligibility will depend on factors including sector, products manufactured and electricity use, so businesses will need to check whether they qualify.
Business rates and the high street
Changes to business rates could also benefit smaller retailers and high-street businesses. From April 2027, the valuation threshold for 100% Small Business Rate Relief for eligible retail, hospitality and leisure properties will increase from £12,000 to £18,000, with the upper threshold for tapered relief rising from £15,000 to £21,000.
Investment and international trade
The Budget also includes measures intended to encourage business investment and growth, alongside tariff suspensions on a range of products. For BATF members importing materials, components or finished products, it will be important to look at the relevant commodity codes to establish whether any of the tariff changes apply.
What does this mean for BATF members?
The impact of the Budget will vary considerably between businesses. Manufacturers, retailers and businesses involved in international trade may all be affected differently.
BATF will continue to monitor developments and highlight announcements and opportunities relevant to members across our industries.