Business: Closures

(asked on 29th July 2024) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, how many high street businesses in (a) Wellingborough constituency, (b) Northamptonshire and (c) England have closed in each of the last five years; and whether she plans to make changes to the level of business rates in the next five years.


Answered by
James Murray Portrait
James Murray
Exchequer Secretary (HM Treasury)
This question was answered on 5th September 2024

Data is not collected by the government on high street closures.

The government is committed to a fairer business rates system. The retail sector accounts for approximately 21% of Rateable Value but only contributes 5% to Gross Value Added (GVA). In our manifesto, we pledged to level the playing field between the high street and online giants, as well as to take steps to incentivise investment, tackle empty properties and support entrepreneurship.

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