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1454948

registered interest
date	28/03/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Business Rates
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, with reference to the rise in the cost of living, if he will make an assessment of the potential merits of business rate reform.
tabling member constituency	Stockton South
tabling member printed	Matt Vickers
uin	148437
answer	answer is ministerial correction date of answer 04/04/2022 answer text <p>The Government concluded the review of the business rates system and published their final report as part of Autumn Budget 2021. The Review set out significant new measures, worth £7 billion over the next 5 years, to reduce the burden of business rates on firms, including a freeze in the multiplier, new support for improvements and green technology, and further relief for high street businesses. The Government are also committing to more frequent revaluations, which represents fundamental reform of the system, and will ensure that liabilities are more responsive to changing market conditions.</p><p> </p><p>The announcements made at Autumn Budget 2021 build on over £16 billion of business rates support already provided to the retail, hospitality, and leisure sectors throughout the pandemic, including a business rates holiday for 2020-21 and a scheme worth £6 billion in 2021-22.</p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer question first answered 04/04/2022 15:17:00 answering member 4517 label Biography information for Lucy Frazer
tabling member	4844 label Biography information for Matt Vickers

1416905

registered interest
date	26/01/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Business Rates
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment his Department has made of the effect on businesses of the increase in the business rates multiplier in England since 1990.
tabling member constituency	Stockton South
tabling member printed	Matt Vickers
uin	112713
answer	answer is ministerial correction date of answer 03/02/2022 answer text <p>The business rates multiplier was frozen in 2021-22. Additionally, at Autumn Budget 2021, the Chancellor announced the decision to freeze the multiplier for 2022-23, a tax cut worth £4.6 billion over the next 5 years. This will support all ratepayers, large and small, meaning bills are 3 per cent lower than without the freeze.</p><p> </p><p>A restaurant chain with 400 restaurants with a rateable value of £45,000 each will receive support worth around £1,350,000, or 3 per cent of their rates liability over the next 5 years.</p><p> </p><p>Cutting the standard business rates multiplier to their 1990 levels of 35p in 2022-23 would cost an estimated £9 billion annually, with costs rising every year to over £11 billion per year by 2030. A cut of 1p to the multiplier in 2022-23 would cost around £600 million.</p><p> </p><p>The revenue forgone for a cut of this scale would be highly significant. For instance, £10 billion of revenue is equivalent to around 20 per cent of 2021-22 local government Core Spending Power. Raising the equivalent funding elsewhere in the tax system would require an increase of around 1.5 percentage points to the standard rate of VAT.</p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer question first answered 03/02/2022 15:08:30 answering member 4517 label Biography information for Lucy Frazer
tabling member	4844 label Biography information for Matt Vickers

1416906

registered interest
date	26/01/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Business Rates
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment his Department has made of the cost of the downwards phasing of business rates transitional relief on retail businesses since the last revaluation in 2017.
tabling member constituency	Stockton South
tabling member printed	Matt Vickers
uin	112714
answer	answer is ministerial correction date of answer 03/02/2022 answer text <p>At Autumn Budget 2021, the Government announced a one-year extension to Transitional Relief, restricting bill increases to 15 per cent for small properties (up to £20k Rateable Values (RVs)) and 25 per cent for medium properties (up to £100,000 RVs), subject to subsidy control limits.</p><p> </p><p>The Government recognises that Transitional Relief arrangements, particularly ‘downward caps’, can mean some bills take longer to reach their new level. These ‘downward caps’ pay for protection for businesses seeing large increases in their bills.</p><p> </p><p>The extension of Transitional Relief and the Supporting Small Business Scheme in 2022-23 for small and medium businesses will save businesses an estimated £30 million, protecting small businesses from significant bill increases.</p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer question first answered 03/02/2022 15:05:45 answering member 4517 label Biography information for Lucy Frazer
tabling member	4844 label Biography information for Matt Vickers

1366969

registered interest
date	08/11/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Business Rates: Tax Allowances
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what (a) retail, (b) hospitality and (c) leisure properties will be eligible for the temporary business rates relief as announced in the Autumn Budget 2021.
tabling member constituency	Stockton South
tabling member printed	Matt Vickers
uin	71511
answer	answer is ministerial correction date of answer 19/11/2021 answer text <p>Guidance setting out eligibility for the 2022-23 retail, hospitality and leisure relief will be published by the Department for Levelling Up, Housing and Communities in due course.</p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer question first answered 19/11/2021 12:26:00 answering member 4517 label Biography information for Lucy Frazer
tabling member	4844 label Biography information for Matt Vickers

1366970

registered interest
date	08/11/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Property: Valuation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what rateable value-increasing improvements to existing properties will be eligible for the 100 per cent improvement relief, as announced in the Autumn Budget 2021.
tabling member constituency	Stockton South
tabling member printed	Matt Vickers
uin	71512
answer	answer is ministerial correction date of answer 19/11/2021 answer text <p>Further details on the eligibility for the improvement relief, heat networks relief, and green plant and machinery exemptions will be set out in a technical consultation later this year.</p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer grouped question UIN 71513 71514 question first answered 19/11/2021 12:13:42 answering member 4517 label Biography information for Lucy Frazer
tabling member	4844 label Biography information for Matt Vickers

1366971

registered interest
date	08/11/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Renewable Energy: Business Rates
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what plant and machinery used in onsite renewable energy generation and storage will be eligible for the targeted business rate exemptions as announced in the Autumn Budget 2021.
tabling member constituency	Stockton South
tabling member printed	Matt Vickers
uin	71513
answer	answer is ministerial correction date of answer 19/11/2021 answer text <p>Further details on the eligibility for the improvement relief, heat networks relief, and green plant and machinery exemptions will be set out in a technical consultation later this year.</p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer grouped question UIN 71512 71514 question first answered 19/11/2021 12:13:42 answering member 4517 label Biography information for Lucy Frazer
tabling member	4844 label Biography information for Matt Vickers

1366972

registered interest
date	08/11/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	District Heating: Business Rates
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what heat networks will be eligible for the 100 per cent business rates relief as announced in the Autumn Budget 2021.
tabling member constituency	Stockton South
tabling member printed	Matt Vickers
uin	71514
answer	answer is ministerial correction date of answer 19/11/2021 answer text <p>Further details on the eligibility for the improvement relief, heat networks relief, and green plant and machinery exemptions will be set out in a technical consultation later this year.</p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer grouped question UIN 71512 71513 question first answered 19/11/2021 12:13:42 answering member 4517 label Biography information for Lucy Frazer
tabling member	4844 label Biography information for Matt Vickers