Covid-19: Financial Support for High Street Retailers

Lord Flight Excerpts
Tuesday 27th October 2020

(4 years ago)

Lords Chamber
Read Full debate Read Hansard Text Read Debate Ministerial Extracts
Lord Flight Portrait Lord Flight (Con)
- Hansard - -

My Lords, can the Government consider placing out-of-town retailers on a comparable basis to high-street retailers with regard to business rates? There has long been a perceived position of overtaxing high streets and undertaxing out-of-town businesses.

Lord Callanan Portrait Lord Callanan (Con)
- Hansard - - - Excerpts

My noble friend makes an important point. Business rates are based on the rateable value of non-residential properties, and rateable value is a measure of the property’s annual open-market rental value, as assessed by the Valuation Office Agency. Clearly, with the move towards out-of-town shopping centres and online retailers, this is an area ripe for urgent review, and we are doing that.