Land Covenants: Supermarket Chains

Lord Sharpe of Epsom Excerpts

Wednesday 4th February 2026 Lords Chamber

[Lord Stockwood (Lab)]

The CMA has a broad primary and competition regulatory framework. It is equipped with the powers to investigate and to act against anti-competitive conduct. On the specific question about the digital Bill, I will have to consult with colleagues and come back to the noble Lord; I am not familiar with it.

[Lord Sharpe of Epsom (Con)]

My Lords, we all recognise the importance of competition, not just for economic growth but for the competitive pressure that keeps prices low for consumers. As the Minister has acknowledged, it is obviously not fair that some large retailers operate under different rules. At the same time, however, the fairness test fails when one considers this Government’s business rate policies. Does the Minister think it is fair that business rates will rise by 115% on hotels over three years but only 4% on supermarkets?

[Lord Stockwood (Lab)]

Taking a broad perspective on the question, I came into government to support the pro-business agenda. What the Government are trying to enact is the ability to stabilise the economy based on fiscal rules, to create an investment environment that is investable from all parts of the market, and then, importantly, to look at regulation to enforce that fairness and sense of competitive tension. The Government are committed to reforming the business rates regime, and that work has already begun. At the Budget, the Chancellor announced a permanent 5p cut in the business rates multiplier for over 750,000 retail, hospitality and leisure properties, which is also funded by the higher tax rate for the most expensive 1% of properties. We continue to take feedback to try to create the right fiscal conditions for businesses to be able to thrive.