Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if she will make it her policy to replace Business Rates with a Land Value Tax collected by local authorities to disincentivise land banking by developers.

We are creating a fairer business rates system that protects the high street, supports investment, and is fit for the 21st century. At the Autumn Budget, we published a Discussion Paper setting out priority areas for reform and invites stakeholders to have a conversation with government about transforming the business rates system.

Fulfilling all our manifesto objectives on business rates is a multi-year process, and reforms will be designed in collaboration with stakeholders and phased over the course of the Parliament to minimise disruption for businesses.