Ruth Cadbury
Main Page: Ruth Cadbury (Labour - Brentford and Isleworth)Department Debates - View all Ruth Cadbury's debates with the HM Treasury
(1 day, 7 hours ago)
Commons Chamber
Dan Tomlinson
One of the things we announced at the Budget is a rebalancing in the system away from properties that have large rateable values and towards the small businesses on our high streets. That shift from the large to the smaller properties is worth almost £1 billion and supports them in the business rates system, as part of our work to reform business rates and support our high streets.
I welcome the Government’s support for our high streets and the consultation on the business rates system, which the Treasury launched on 25 November. But it is not just high streets that are suffering. Under the current system, major transport infrastructure owners face crippling bills: Eurotunnel’s business rates valuation has tripled from 2017, so it has cancelled investment in its international freight hubs, and Heathrow Airport’s business rates bill will increase by millions of pounds. Will the Treasury’s consultation on 25 November give transparency and predictability—
Order. The hospitality sector might use the rail industry, with freight, so I am sure we can get something on that.