Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether she plans to replace the business rates system.

Over this Parliament, we will create a fairer business rates system that protects the high street, supports investment, and is fit for the 21st century.

Fulfilling all our manifesto objectives on business rates is a multi-year process. The 2024 Autumn Budget began that work of levelling the playing field for high streets by announcing permanently lower business tax rates for RHL properties, including those on the high street, with rateable values below £500,000.

The Discussion Paper published at Budget, Transforming Business Rates, sets out the Government’s areas of focus for broader reforms to the system and invites stakeholders to have a say in wider reforms.