Oral Answers to Questions

Matt Turmaine Excerpts

Tuesday 3rd November 2026 Commons Chamber

[Dan Aldridge (Weston-super-Mare) (Lab)]

21. What fiscal steps he is taking to support high streets and town centres.

[Matt Turmaine (Watford) (Lab)]

23. What fiscal steps he is taking to support high streets and town centres.

[The Financial Secretary to the Treasury and Paymaster General (James Murray)]

At the Budget, we announced a two-year real-terms freeze to business rates bills for all retail, hospitality and leisure properties in England; cut bills by an extra 20% for pubs and all but the largest live music venues; and removed 70,000 smaller properties from business rates altogether. Taken together, these measures show how the Government are backing our high streets: all retail, hospitality and leisure properties in England are seeing their business rates frozen in real terms, reduced, or cut to zero.

--- Later in debate ---

[James Murray]

The Government want to support businesses in Weston-super-Mare and across the country to take on young people in particular, which is why our youth jobs grant offers businesses £3,000 for every young person they hire aged 18 to 24 who has been on universal credit and looking for work for six months. Businesses also benefit from targeted employer national insurance contribution reliefs for young people, meaning that employers pay no employer NICs on earnings up to just over £50,000 for employees up to the age of 21 and for apprentices under 25—a saving of nearly £7,000 per eligible employee per year.

[Matt Turmaine]

I thank my right hon. Friend for his answer. I welcome last week’s Budget and its efforts to create breathing space for people and businesses—[Interruption.] It does indeed. Watford has a popular high street. I have met local business owners post Budget, and they are keen to see the Government cut red tape and stimulate growth. Will my right hon. Friend outline some of the specific measures the Government are taking to help our high streets?

[James Murray]

As my hon. Friend points out, the Government are working to reduce red tape for businesses in Watford and right across the country by making progress towards our target of cutting the annual admin burden of regulation for businesses by 25% by the end of this Parliament. As I have mentioned, we published our high streets strategy at the Budget, which is backed by £210 million of new funding that will bring vacant and derelict properties back into use, support the growth of co-ops and mutuals and help more communities to take ownership of valued local assets.