Minister questioned on business rates and the high street
19 December 2018
The Housing, Communities and Local Government Committee and Treasury Committee hears from the Rt Hon Mel Stride MP, Financial Secretary to the Treasury, on business rates and the high street.
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- Housing, Communities and Local Government Committee
- Treasury Committee
Wednesday 19 December in the Boothroyd Room, Portcullis House
- The Rt Hon Mel Stride MP, Financial Secretary to the Treasury
- Mike Williams, Director of Business and International Tax, HM Treasury
Purpose of the session
In the 2018 Budget, Chancellor Phillip Hammond announced measures designed to alleviate tax pressures on local businesses paying business rates, alongside a digital services tax. The Committees will look at the impact these measures are likely to have and how far they go to support struggling businesses, in light of the difficulties experienced by nationwide retailers such as Debenhams, Toys R Us and New Look.
The Committees will also look current approach to business rates, as well as additional measures set out in the 2018 Budget, and the impact this has on high street businesses. Witnesses are Rt Hon Mel Stride MP, Financial Secretary to the Treasury, and Mike Williams, Director of Business and International Tax at HM Treasury.
The broader suitability of business rates, and how well it provides a fair system of taxation and consistent income stream for local authorities will be examined. The Committees will look at alternatives to the current system of assessing rates based on rental value, such as revenue or land value based systems.