Oral Question·Foreign and Commonwealth Office
“If he will make a statement on his departmental responsibilities.”
Tabled: 11 March 2020Answered: 17 March 2020
Asked by
Alicia Kearns
Conservative — Rutland and Stamford
Answering Minister
the Secretary of State for Foreign and Commonwealth Affairs
Answer from Hansard
The Exchequer Secretary to the Treasury (James Murray)
To deliver our manifesto pledge, we intend to introduce permanently lower tax rates for high street retail, hospitality and leisure properties from 2026-27. This tax cut must be sustainably funded, so we intend to introduce a higher rate on the most valuable properties—those with a rateable value of £500,000 or above—from 2026-27. The Non-Domestic Rating (Multipliers and Private Schools) Bill, introduced last month, will enable the Government to deliver these changes, and it will come into effect in April 2026.