Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, if he will undertake a comparative assessment of levels of business rates applying to steel producers in the UK and in other EU member states.

The government concluded the Business Rates Review at Budget 2016. The government consulted with stakeholders, including the steel industry.

From April 2020, business rates for all businesses, including the steel industry, will be cut through a switch in the indexation of business rates from RPI to the main measure of inflation currently CPI.

The government has worked hard to deliver on the steel industry’s key asks. We (a) secured state aid approval to compensate for energy costs, (b) secured flexibility over EU emissions regulations, (c) published guidance so that the true value of UK steel can be taken into account in major procurement decisions, and (d) continue to tackle unfair trading practices at an EU and an international level