Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to the Valuation Office Agency's statistics entitled Non-domestic rating: change in rateable value of rating lists, England and Wales, 2026 Revaluation, published on 26 November 2025, for what reason the average Rateable Values of civil airports have increased by 295%.

The revaluation is required to be carried out in relation to the relevant valuation date, 01 April 2024 for the 2026 rating list.

The current rating list valuation is carried out in relation to the relevant valuation date, 01 April 2021 for the 2023 rating list.

The annual value at each valuation reflects the economic circumstances at each valuation date. The average Rateable Values of civil airports increase 295% reflects the different economic circumstances at each valuation date.

At the Budget, the Government published a Call for Evidence seeking further evidence on the role business rates and its reliefs play in investment. Through this Call for Evidence, the Government is considering options to provide greater predictability and stability in the business rates system for long-term, high-value investments. The Call for Evidence has recently closed, and a Government response will be published in due course.