Retail Trade: Urban Areas
The question
To ask the Secretary of State for Housing, Communities and Local Government, what assessment she has made of the potential impact of the Non-Domestic Rating (Multipliers and Private Schools) Bill on small high-street businesses.
Answered by Jim McMahon
The Bill provides the Treasury with powers to make provision for two new lower multipliers for qualifying retail, hospitality, and leisure properties from 2026/27. The intention of these provisions in the Bill is to rebalance the playing field for high street businesses.
Policies and legislation concerning tax and tax administration fall outside the meaning of regulatory provisions and, therefore, are not required to be accompanied by an Impact Assessment. Nevertheless, when the new multipliers are set at Budget 2025, the Treasury intends to publish analysis of the effects of the new multiplier arrangements.
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