Business Rates: Retail, Hospitality and Leisure

Shockat Adam Excerpts

Monday 19th January 2026 Commons Chamber

[Dan Tomlinson]

When it comes to support for businesses, we are making sure that we bring back economic stability to this country, with six interest rate cuts that will reduce the cost of borrowing for businesses and households. The economic stability that we have provided has meant that wages went up faster in the first year of this Government than they did in the whole first 10 years of the previous Government. We are supporting people up and down the country with the cost of living and providing stability for businesses in the corporation tax system, keeping it at the lowest rate in the G7 as part of our commitment to our corporate tax road map.

[Shockat Adam (Leicester South) (Ind)]

One of the worst things for business owners in my constituency is the unpredictability of running a business. They need to know, and it is simply killing them. They already have to deal with poor parking, a rise in antisocial behaviour and rises in national insurance contributions, wage costs and energy costs. Now, when they thought that they were going to have a reduction in business rates, they are possibly going to have a rise instead. Can the Minister alleviate their fears and put them out of their misery? What is it going to be? Is it going to rise or is it going to stay the same?

[Dan Tomlinson]

We want to provide stability in our taxation system, and one of the things that the Government are seeking to do in the coming years is to continue to have economic stability—something that was lacking for so long under the previous Government. That is why we are focusing on getting Government borrowing down in every year of the forecast, and it will fall faster in this country than in any other G7 economy. When it comes to business rates, the reforms that we set out in the Budget will rebalance the system to provide a permanently lower tax rate—the multiplier for those small businesses on the high street.