Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment he has made of the impact of business rates on new shops setting up in high streets and city centres.

Business rates is a tax that applies to all non-domestic properties in England.

Throughout the pandemic the Government has provided unprecedented business rates support to eligible businesses in the retail, hospitality and leisure sectors in England worth £16 billion in 2020-21 and 2021-22.

The business rates review confirmed a new temporary relief worth almost £1.7 billion for eligible retail, hospitality and leisure businesses in 2022-23 which, together with SBRR, will result in over 90% of retail, hospitality and leisure businesses receiving at least a 50% reduction in their business rates bills.