Retail Sector: High Street

Lord Shipley Excerpts

Thursday 17th September 2015 Lords Chamber

[Baroness Williams of Trafford]

My Lords, the Government are providing real incentives for councils to support enterprise and economic growth. We have introduced the local retention of business rates, allowing councils to keep half the revenue from business rates. In this year alone, 362 authorities will retain an extra £544 million in business rates, and local authorities are protected against significant declines in business rate income through a safety net that guarantees income at 92.5% of baseline funding.

[Lord Shipley (LD)]

My Lords, business rates have risen by some 20% since 2010, at a time when the Government have held down other forms of taxation. Does the Minister agree that that is a very high increase? Given that the Government initiated in March a consultation on the reform of business rates and that consultation closed in June, will she confirm that they are still committed to the reform of business rates within the timescale for announcement in Budget 2016 that they set out a number of weeks ago?