Businesses in the Cotswolds have been given a massive boost with business rates set to reduce by a third.

Hundreds of retailers in the Cotswold District are set to benefit from the discount which will see rates slashes for retailers providing they have a rateable value of £51,000 or less.

At a council meeting on February 26, members of Cotswold District Council will consider whether to support the government scheme.

It is thought that around 400 businesses in the Cotswolds would benefit from this discount, which was announced in the Chancellor’s 2018 Autumn Statement.

Those already receiving 100 percent relief through other schemes will continue to do so.

Cotswold District Council leader Cllr Tony Berry said: “We have already given this government scheme our full support at cabinet level and it will now be considered by the full council on February 26.

"If approved, I am sure that this relief will be welcomed by many retailers in the Cotswolds, because it is of direct benefit to the local economy and should help our high streets cope with the challenge of changing shopping trends.”

Leader of the Lib Dems on Cotswold District Council Joe Harris is pleased with the news, but wants the rates abolished completely.

"Any reduction in business rates is good news and the Lib Dems support that," Cllr Harris said.

"But the council should by lobbying to the government to abolish business rates completely.

"The current policy of business rates is a drag on local businesses.

"It needs to be replaced with the commercial landowner levy, which would remove businesses from the calculations and tax only the land value of the site, with the levy paid by owners rather than tenants."

Provided the scheme gets full council support at the meeting, Cotswold District Council will be sending confirmation about the discount to everyone who qualifies based on its current business rates records.