Leisure and Retail Trade: Business Rates
The question
To ask the Chancellor of the Exchequer, what steps her Department has taken to explore alternatives to business rates for retail, hospitality and leisure premises; and whether she has considered implementing a Commercial Landowner Levy based on land value.
Answered by Dan Tomlinson
The Government is delivering a long overdue reform to rebalance the business rates system and support the high street, as promised in our manifesto.
The Government is doing this by introducing new permanently lower tax rates for eligible retail, hospitality and leisure (RHL) properties. These new tax rates are worth nearly £900 million per year, and will benefit over 750,000 properties.
The Call for Evidence, published at Budget, focuses on how reform of the business rates system can be used to incentivise and secure more investment by Britain’s businesses. This Call for Evidence builds on the findings of the Transforming Business Rates: Discussion Paper and asks stakeholders for more detailed evidence on how the business rates system influences investment decisions.
Any reforms taken forward will be phased over the course of the Parliament.
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