Question to the HM Treasury:

To ask the Chancellor of the Exchequer, pursuant to the Answer of 9 June 2025 to Question 55222 on Film: Business Rates, how many film studios in England will be subject to the higher multiplier on Rateable Values above £500,000, from April 2026.

At Autumn Budget 2024, the Government announced an intention to introduce a higher business rates multiplier on the most valuable properties – those with Rateable Values (RVs) of £500,000 and above – from April 2026 to fund permanently lower multipliers for retail, hospitality and leisure properties with RVs below £500,000.

The next revaluation will take effect from April 2026. The VOA are required to publish a draft of all properties’ new RVs this year, at which point it will be clear how many film studios will be in scope of the new higher multiplier.

Eligible film studios in England benefit from 40 per cent business rates relief on their total liability. Business rates bills are calculated by applying the relevant multiplier first and so film studios will receive 40 per cent relief on their total liability.