Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps his Department is taking to support businesses that are owed significant rent arrears as a result of the covid-19 outbreak.
The Government will introduce legislation to support the orderly resolution of rental payments accrued by commercial tenants affected by the pandemic. The legislation will ringfence rent debt accrued during the pandemic by businesses affected by enforced closures. The legislation will also set out a process of binding arbitration to be undertaken between landlords and tenants. This is to be used as a last resort after bilateral negotiations have been undertaken and only where landlords and tenants cannot otherwise come to a resolution.