UK PM Johnson plans to slash rates for small businesses in Queen's Speech – Daily Mail UK

Ahead of the Queen’s speech, up for Thursday, the Daily Mail UK came out with the news stating that the UK PM is likely to have some good news for small businesses.

Key quotes

Boris Johnson will announce immediate help for the high street today in the first Queen's Speech of his 'people's government'.

Half a million independent shops, restaurants, pubs and cinemas will benefit from a cut in business rates from April.

Tory sources said the tax break would be worth up to £12,500 a year.

For the first time, the discount will be extended to independent cinemas and grassroots music venues.

FX implications

Even if GBP/USD registers a mild pullback to 1.3080 after the news, prices are likely to remain under pressure as fears of hard Brexit dominate Cable’s moves off-late.