To ask the Secretary of State for Housing, Communities and Local Government, when all local authorities will retain 100 per cent of business rates.
The business rates retention scheme is yielding strong results. Local authorities estimate that in 2019-20 they will keep around £2.5 billion in business rates growth. The Government is committed to increasing business rates retention and is aiming to move to 75 per cent retention of business rates from 2020/21. The Government will continue to work with the sector to identify other opportunities to further increase business rates retention when it is right to do so.