Covid-19: Financial Support for High Street Retailers Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Lord Fowler
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Covid-19: Financial Support for High Street Retailers
Lord Fowler Excerpts(4 years ago)
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Lord Callanan (Con)
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.
The Lord Speaker (Lord Fowler)
My Lords, all supplementary questions have been asked, so we now move on to the next Question.