Business: Closures
The question
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
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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