Communities secretary Eric Pickles says 300,000 small businesses will benefit from a new regime of business rates ushered in today.

Many small businesses setting up in deprived areas already get a temporary 100 per cent discount on business rates, but changes happening today means many more will benefit from a reduced tax bill.

Mr Pickles says 300,000 small shops, restaurants and pubs stand to gain. Under the revisions a business with a rateable value of £10,000 could get 30 per cent off last year’s business rates bill.

Another new measure targeting small business means owners can spread payments over 12 monthly instalments – up from 10 previously.

Mr Pickles said the changes would make “a huge difference” for struggling high streets.

“A whole string of changes to business rates kick in today bringing new support to local shops, pubs and firms,” he said.

“In some cases shopkeepers could see their bills cut by a third extra or even more, which is worth thousands of pounds in tax breaks."