Baroness Scott of Bybrook (Con)

My Lords, I rise to speak to Amendments 11, 28 and 36 in my name, which seek to exempt anchor stores from the scope of the proposed changes in the Bill. These amendments are crucial for safeguarding the health and vitality of our high streets particularly in the context of the ongoing challenges facing retailers and small businesses. I thank all noble Lords who, throughout this debate, have acknowledged the importance of these businesses. As we are aware, anchor stores play a vital role in the commercial ecosystem of any high street. They act as a significant draw for foot traffic, attracting customers not only to their own establishments but to the surrounding smaller retailers and businesses. It is no exaggeration to say that, without anchor stores, many high streets would be devastated. They are the backbone that supports the smaller independent shops that contribute to the unique character of our local economies. However, while the higher threshold for non-domestic rates is a well-intentioned measure to ensure that out-of-town warehouses and large-scale online retailers contribute their fair share, we must pause and consider the unintended consequences of this approach. The so-called Amazon tax may be designed with online giants in mind, but the current proposals would also capture larger businesses operating on our high streets—businesses that, in many cases, are anchor stores. It is a very real concern that these stores become subject to increased rates. They may choose to relocate to out-of-town retail parks where rates are more favourable. This would exacerbate the very problem we are seeking to address���the decline of our high streets and the hollowing out of our town centres. We must ask ourselves what the impact would be on our communities if these anchor stores, which currently act as magnets for footfall, were to disappear from our high streets. Would we see a chain reaction where smaller businesses, already struggling under the pressure of rising costs and changing consumer habits, are left without customers and forced to close? How many small businesses would be driven to the brink if the larger retailers that currently support them were to move away, taking their foot traffic with them? These questions are not just theoretical; they are deeply practical and must be considered carefully if we are to protect the future of our high streets. Amendments 11, 28 and 36 seek to exempt anchor stores from the broader measures in the Bill and offer a way forward that ensures that we do not punish those businesses that are essential for the economic vibrancies of our town centres. They are about striking the right balance. We must ensure that we support businesses that are critical to the future of our high streets and town centres. Exempting anchor stores from this measure would help to achieve this balance. I ask the Minister to consider whether the current proposals risk harming the very high streets that we all seek to protect. We cannot afford unintentionally to undermine the businesses that are central to our local economies. Exempting anchor stores is a sensible, practical step to ensure the long-term health of our high streets, and I urge the Government truly to reflect on this before moving forward. I beg to move.