Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential merits of business rate reform to incentivise retail business investment in (a) Bromsgrove constituency and (b) across the United Kingdom.

The Government is creating a fairer business rates system that protects the high street, supports investment, and is fit for the 21st century.

At Autumn Budget 2024, we made the first step with the announcement of permanently lower tax rates for the Retail, Hospitality and Leisure properties with rateable values below £500,000 from 2026-27.

The Discussion Paper published at Budget sets out priority areas for reform and invites businesses to have a conversation with government about transforming the business rates system over the course of this Parliament, including how to incentivise investment.