Philip Hollobone
Main Page: Philip Hollobone (Conservative - Kettering)Department Debates - View all Philip Hollobone's debates with the HM Treasury
(4 years, 11 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Hammond
The £675 million fund that I mentioned is specifically intended to allow local authorities to develop plans for responding to the transformation of the high street that is coming. Retailing is changing, and high streets have to change to reflect that. We cannot hold that tide back, but we can help to support the transition.
Mr Philip Hollobone (Kettering) (Con)
Boots the Chemist, one of the most popular high street stores, says that just 22 of its 2,400 stores qualify for the Chancellor’s excellent business rates reduction scheme—not because of anything the Chancellor has done, but because of EU state aid rules. What can the Chancellor do to assist and to get around those rules?
Mr Hammond
I am a little mystified by this story about Boots, which I too read in the newspapers. When I announced the policy, I said that it was designed to help small independent retailers, and Boots, with 22,000 providers, does not fall within my definition of a small independent retailer. We always understood that this policy initiative was designed to support small independent retailers as they transition to the high street of the future.