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Mike Wood: Reductions in business rates will help thousands of small and medium-sized shops, restaurants and pubs in our town centres. Will the Prime Minister commit to continuing to work for fundamental reform of local business taxation so that local shops and businesses of all sorts can compete fairly with the online giants?
Theresa May The Prime Minister, Leader of the Conservative Party
I thank my hon. Friend for referring the House to the fact that we are bringing in those changes to business rates to help local businesses. We are determined to help local businesses, which is why we are also implementing reforms to make the system fairer and more effective, including three-year evaluations, removing the so-called staircase tax and the new check, challenge and appeal system. We also aim to increase the local share of local business rate receipts to 75% from 2020-21. On future taxation, I can assure him that we will of course continue to keep it under review.