Retail Trade: Closures

Ministry of Housing, Communities and Local Government written question – answered on 4th September 2018.

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Photo of Ged Killen Ged Killen Labour/Co-operative, Rutherglen and Hamilton West

To ask the Secretary of State for Housing, Communities and Local Government, what assessment he has made of the effect of changes in the level of business rates on the number retail businesses closing.

Photo of Rishi Sunak Rishi Sunak Parliamentary Under-Secretary (Housing, Communities and Local Government)

The majority of businesses saw no change or a fall in their business rates liability following the 2017 revaluation. In addition to the £3.6 billion transitional relief scheme to support those facing increases, the Government has introduced a range of business rates reforms and measures worth over £10 billion to 2023 to support all businesses, including the retail sector.

High streets are a crucial part of our communities, and the Government recognises the sector faces challenges. That’s why we recently announced a call for evidence looking at the future of our high streets. We are establishing a panel of industry leaders to diagnose the issues currently affecting our high streets, and advise on the best long-term approach to help their revival.

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