Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if she will make an assessment of the potential merits of introducing targeted business rates relief for food and drink wholesalers.

Answered by James Murray - Exchequer Secretary (HM Treasury)

The Government published the ‘Transforming Business Rates’ Discussion Paper at Budget setting out priority areas for reform. This paper invites industry to help co-design a fairer business rates system that supports investment and is fit for the 21st century. Further information regarding the Discussion Paper can be found at: Transforming business rates - GOV.UK.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps she plans to take to ensure that the business rates system supports the sustainability of food and drink wholesalers.

Answered by James Murray - Exchequer Secretary (HM Treasury)

The Government published the ‘Transforming Business Rates’ Discussion Paper at Budget setting out priority areas for reform. This paper invites industry to help co-design a fairer business rates system that supports investment and is fit for the 21st century. Further information regarding the Discussion Paper can be found at: Transforming business rates - GOV.UK.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what estimate she has made of the impact of the higher multiplier on properties with a rateable value of £500,000 and above on the food and drink wholesale sector.

Answered by James Murray - Exchequer Secretary (HM Treasury)

As set out at Autumn Budget 2024, the Government intends to introduce permanently lower tax rates for retail, hospitality, and leisure (RHL) properties, including those on the high street, from 2026-27. This permanent tax cut will ensure that they benefit from much-needed certainty and support. The Government intends to fund this by introducing a higher multiplier on all properties with a rateable value (RV) of £500,000 and above.

The Government will confirm the rates for the new multipliers at Budget 2025, taking account of the outcomes of the 2026 revaluation as well as the broader economic and fiscal context.

Tax policy and legislation is not subject to the Better Regulation Framework Guidance which requires an Impact Assessment to accompany policy decisions. Nevertheless, when the new multipliers are set at Budget 2025 – to take effect in the 2026-27 billing year – HM Treasury intends to publish analysis of the effects of the new multiplier arrangements.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the potential financial impact of the classification of wholesale premises as online retail warehouses on the food and drink wholesale sector; and what steps she is taking to reduce this impact.

Answered by James Murray - Exchequer Secretary (HM Treasury)

As set out at Autumn Budget 2024, the Government intends to introduce permanently lower tax rates for retail, hospitality, and leisure (RHL) properties, including those on the high street, from 2026-27. This permanent tax cut will ensure that they benefit from much-needed certainty and support. The Government intends to fund this by introducing a higher multiplier on all properties with a rateable value (RV) of £500,000 and above.

The Government will confirm the rates for the new multipliers at Budget 2025, taking account of the outcomes of the 2026 revaluation as well as the broader economic and fiscal context.

Tax policy and legislation is not subject to the Better Regulation Framework Guidance which requires an Impact Assessment to accompany policy decisions. Nevertheless, when the new multipliers are set at Budget 2025 – to take effect in the 2026-27 billing year – HM Treasury intends to publish analysis of the effects of the new multiplier arrangements.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what estimate she has made of the impact of the higher multiplier on properties with a rateable value of £500,000 and above on the costs incurred by retail, hospitality and leisure businesses (RHL) businesses.

Answered by James Murray - Exchequer Secretary (HM Treasury)

As set out at Autumn Budget 2024, the Government intends to introduce permanently lower tax rates for retail, hospitality, and leisure (RHL) properties, including those on the high street, from 2026-27. This permanent tax cut will ensure that they benefit from much-needed certainty and support. The Government intends to fund this by introducing a higher multiplier on all properties with a rateable value (RV) of £500,000 and above.

The Government will confirm the rates for the new multipliers at Budget 2025, taking account of the outcomes of the 2026 revaluation as well as the broader economic and fiscal context.

Tax policy and legislation is not subject to the Better Regulation Framework Guidance which requires an Impact Assessment to accompany policy decisions. Nevertheless, when the new multipliers are set at Budget 2025 – to take effect in the 2026-27 billing year – HM Treasury intends to publish analysis of the effects of the new multiplier arrangements.

Open Doors 2025

Commemorating 200 years of the modern railway

Early detection of heart valve disease

Found: Blackman (Chair); Jess Brown-Fuller; Jonathan Davies; Mary Glindon; Alison Hume; Will Stone; Martin Vickers