L

Lord Livermore (Lab)

Speaking in the House of Lords on 6 January 2026

Debate

Agricultural Property Relief and Business Property Relief

Contribution

The previous revaluation was based on property values during the Covid pandemic. Rateable values were much lower—perhaps artificially lower—at that point. I understand that pubs and other hospitality venues, such as hotels, are now seeing increases as a result of the latest revaluation. We have provided a £4.3 billion support package. Without that, pubs would have faced a 45% increase in total bills for next year. Because of the support that we have put in place, we have got that down to 4%. However, I acknowledge that the revaluation means that pubs and others will struggle with the business rates that are applicable to them. That is why we are working with the sector and will continue to do so. We are very open to discussions with it about other measures, such as more freedom for licensing and the freedom to open for longer.

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