Land Banking: Business Rates
The question
To ask the Chancellor of the Exchequer, if she will make it her policy to replace Business Rates with a Land Value Tax collected by local authorities to disincentivise land banking by developers.
Answered by James Murray
We are creating a fairer business rates system that protects the high street, supports investment, and is fit for the 21st century. At the Autumn Budget, we published a Discussion Paper setting out priority areas for reform and invites stakeholders to have a conversation with government about transforming the business rates system.
Fulfilling all our manifesto objectives on business rates is a multi-year process, and reforms will be designed in collaboration with stakeholders and phased over the course of the Parliament to minimise disruption for businesses.
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →