Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether her Department plans to review Business Rates.

The Government is committed to creating a fairer business rates system that protects the high street, supports investment, and is fit for the 21st century.

At Autumn Budget 2024, we took the first step with the announcement of permanently lower tax rates for the Retail, Hospitality and Leisure properties that make up the backbone of our high streets, from 2026-27.

The Budget announcements reflected the Government’s first steps to support the high street. We wanted to go further to modernise the system, and so, we published a Discussion Paper, setting out priority areas for reform and inviting industry to co-design a fairer system.

The Government will publish an interim report that sets out a clear direction of travel for the business rates system, with further policy detail to follow at Autumn Budget 2025.