Member

I should stress that recording studios will benefit from transitional relief if they are seeing large bill increases, which caps bill increases next year by between 5% and 30%. I am afraid I cannot commit here to introducing targeted relief, although noble Lords will know that the Government keep all taxes and reliefs under review. The noble Lord, Lord Clement-Jones, and other noble Lords asked why there is no bespoke valuation approach for recording studios in the methodology. I am very happy to take that back and discuss it further with colleagues. I am also very happy, as the noble Lord, Lord Parkinson of Whitley Bay, asked, to include the VOA in the meeting that I agreed to have with the noble Lord, Lord Bassam. I am happy to invite it to that; I cannot guarantee its attendance, but I will do my very best.