Non-Domestic Rating (Lists) (No. 2) Bill

Marco Longhi Excerpts

2nd reading & 2nd reading: House of Commons & Programme motion & Programme motion: House of Commons & Ways and Means resolution & Ways and Means resolution: House of Commons
Wednesday 30th September 2020 Commons Chamber

[Marco Longhi (Dudley North) (Con)]

What businesses often say they need most is stability and certainty. The current system for revaluation of non-domestic rates has sometimes given rise to sudden changes in business rates payable to reflect how local economic conditions may have changed, so although it can happen that business rates go down, a growing economy will more likely result in an increase in rates. If the time period between valuations is high then this can result in sudden and sometimes destabilising increases in business rates.

The Treasury, as we know, has been heroic in its support of businesses across the United Kingdom. The downturn that we have seen would have been much worse without it. We also know of the Treasury’s call for evidence for the consultation on the fundamental review of business rates as well as the call by the Royal Institute of Chartered Surveyors for the Government to commit to full reform of the system.

There is, therefore, demand for change. However, it is clear that the best thing that we can do at this uncertain time is to provide additional stability. I have no doubt that companies such as Thomas Dudley, all the businesses in the Trident and Churchill shopping centres in Dudley and, of course, businesses across the country would welcome the postponing of the revaluation date to the 1 April 2023, as indeed would—probably—the mayor of the west midlands, Andy Street.