Question to the HM Treasury:

To ask His Majesty's Government what assessment they have made of the net fiscal effect of the 2026 non-domestic rating revaluation on the commercial recording studio sector; whether any projected increase in non-domestic rates yield has been set against the risk of lost income tax, National Insurance contributions, corporation tax, and VAT receipts arising from commercial recording studio closures and the relocation of recording activity overseas; and whether they intend to monitor those fiscal effects over a five-year period.

No such estimates have been made. In recognition of the impact of the revaluation on bills, the Government has introduced a support package worth £4.3 billion to protect ratepayers against large overnight increases in bills.

Recording studios are a vital part of the infrastructure of the music industry. The Government is doubling funding for the Music Growth Package, which will support the music ecosystem across both live and electronic music – from grassroots venues, festivals, recording and rehearsal studios to artists, songwriters, independent labels, managers, and promoters working in all genres of music.

The Government will continue to engage closely with the sector to understand ongoing pressures and ensure the UK remains a globally competitive place to create, record and produce music.