Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the potential merits of ending the use of the approved guidance on valuation of public houses and introducing a standard RV calculation method for businesses.

The Valuation Office uses the ‘Fair and Maintainable Trade’ methodology to assess public houses.

The Government recognises that a review of the methodology to value pubs for business rates purposes is needed. Therefore, the Government will launch a review which will explore how pubs are valued for business rates, and will engage extensively with valuation experts, businesses and their representatives.