High Streets and Towns: Regeneration

Lord Walker of Broxton Excerpts

Wednesday 18th March 2026 Lords Chamber

[Baroness Taylor of Stevenage (Lab)]

I think that might be more due to 14 years of letting high streets sink into decline. However, the places that are subject to Pride in Place funding will also be joined by the new cross-government high street strategy, which will look at all high streets. This will be backed by £150 million of targeted support, which will help to tackle some of the structural issues holding high streets back and the challenges facing retail, leisure and hospitality. We will align policy across government and strengthen our councils’ roles as leaders of place-based regeneration. We will develop that with councils, businesses and communities. We recognise that there is no one-size-fits-all for high streets, and this builds on our commitment to pride in place everywhere.

[Lord Walker of Broxton (Lab)]

My Lords, I declare my interest as the executive chairman of Iceland Foods. Does the Minister accept that it is retail businesses which are the catalyst that make a high street thrive? Yet many fail to survive because of the outdated Victorian taxation system of business rates, which are simply too high. Although the recent reduction in the multiplier is welcome, the balance between bricks and mortar retailers and online giants remains badly out of kilter. Will the Minister do all that she can to speed up the rollout of a new, fairer system that we promised in our manifesto and consider including an online sales tax? I say that as one of the biggest online retailers in the UK.