Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what recent assessment he has made of the potential merits of introducing a reformed business rate for pubs that is equitable to other small businesses.

The Valuation Office Agency determines the rateable value of public houses using the Fair Maintainable Turnover (FMT) basis, as agreed with representative trade bodies.

At Autumn Statement 2022, the government announced a package of support worth £13.6 billion to businesses over the next five years. This includes an extended and increased 75 per cent relief for retail, hospitality, and leisure properties, up to a cash cap of £110,000 per business for 2023-24. This is a tax cut worth over £2 billion for around 230,000 businesses, which will support the businesses that make our high streets and town centres successful.

This support builds on the previous temporary 50 per cent retail, hospitality and leisure scheme announced at Autumn Budget 2021, as well as the unprecedented £16 billion of business rates relief provided to the retail, hospitality and leisure sectors throughout the pandemic.