I think the Institute of Directors has already disagreed with that approach. We consider that it would be robbing Peter to pay Paul because all businesses benefit from a reduction in corporation tax. It is also worth reminding the noble Lord that this Government have given local authorities powers to grant their own business rate discounts. The local government sector now retains 50% of the business rates that are collected. If local authorities decide to reduce business rates further in their area, since April of this year the Government have been funding 50% of those costs.
Does the Minister agree that while business rates may be one factor in the decline of the high streets, there are a number of others? Does she further agree that this Government have already frozen the revaluation of rates, which was a help? Finally, does she agree that other factors in the high street include rents, the mix of shops, the support of local people and, perhaps most importantly, online shopping, which it is now estimated will account for 30% of all business transacted over the Christmas period?
This Government have done a lot to support local communities in adapting their high streets to the changing behaviour of consumers. My noble friend is right to highlight the increase in online trade. The other point worth making about things we are doing differently is that we changed some of the previous Government’s planning guidance which pushed up parking charges and had quite a negative effect on town centres. We are looking to do more in this area and will consult on that soon.
Leaseholders will have the option of continuing to pursue a complaint through the tribunal system as the noble Lord has described, but they will also have this new route for redress through the new schemes, which will not attract a fee. By introducing these schemes we are able to offer people more opportunities to get the right outcome if they feel they have a legitimate complaint to make.
My Lords, I, too, acknowledge the work that has been done by the noble Baronesses, Lady Gardner and Lady Hayter, on this matter. Does the Minister agree that it is essential that people in leasehold properties understand their rights and obligations and the redress which is available to them as a result of this and other policies? Does she also agree that it is essential that people moving into the private rented sector—which is increasing, and must increase to help with housing problems—have the same knowledge?
My noble friend is absolutely right on those points. It is incumbent on government to make sure, through opportunities such as this, that both those living in leasehold properties and those in the private rented sector are aware of their new rights. It is incredibly important that we extend the private rented sector because one way of driving up standards is to increase choice for those living in the rented sector. I am pleased to announce today that we have agreed yet another new Build to Rent project, this time in Manchester, which will deliver 196 rented units by refurbishing three blocks of unused social housing.