I thank noble Lords for their passionate speeches. It is clear to me that we share the same objectives; we may just have slightly different ways of getting there. I hope I can satisfy noble Lords by the end of my speech.

This group of amendments returns to the theme of the effectiveness of the business rates system as a whole. Amendment 15 in the name of the noble Baroness, Lady Hayman of Ullock, and Amendment 19 from the noble Lord, Lord Thurlow, would require a further review of the business rates system to, respectively, expand small business rate relief or rebalance the tax burden between high street and internet retail. Amendments 5, 6 and 7 from the noble Lord, Lord Shipley, concern the frequency of revaluations.

I turn first to whether we should conduct a review of the tax. As noble Lords are aware, the Bill is the product of the Government’s own comprehensive review of the business rates system. That review was delivered in around 18 months in 2020 and 2021, which allowed us to do justice to the significance and complexity of the exercise. The review considered a wide range of evidence and reached clear conclusions about the effectiveness of a tax as a means of funding local services and the limited evidence in support of a fundamental overhaul, but also the opportunities for reform.

The Bill seeks to deliver more frequent revaluations and to enable the abolition of downward transitional relief—two of stakeholders’ key asks—alongside other measures. Making these revaluations more frequent, as we are doing with the new three-yearly cycle, will make the tax more up-to-date and therefore fairer. We agree with noble Lords. I accept that some would like us to go further, but a majority of respondents to the review supported a three-yearly revaluation cycle. Moving from every five to every three years is a major reform of the system, and to do this we must implement significant changes to how ratepayers and the VOA interact, which will take several years to bed in.

I repeat that we will keep the frequency of revaluations under review. It is also our aspiration to go further by shortening the antecedent valuation date gap, where possible. I recognise that, even with more frequent revaluations, there are many who are concerned by the tax burden on our high streets and the potential competitive advantage of internet retailers, but I do not think that this justifies—as the amendment from the noble Lord, Lord Thurlow, implies—departing from the common standard of rateable value. There is a core principle in rating that all properties subject to business rates are assessed to the same standard of rateable value.

In the Government’s review of business rates, there was a strong majority support for retaining the existing basis of rateable value and industry-recognised methodology. Valuing properties by reference to the evidence on the level of rents, which is agreed by landlords and tenants for that property class, provides a trusted and credible basis for taxation. That is especially so when combined with more frequent revaluations, so that relative changes in the open market rental values result in rateable values updating promptly.

By way of addressing the imbalances between high street and mainly online retailers, as well as ensuring that properties are taxed fairly, based on more accurate valuations, the Government also provide extensive reliefs where support is most needed. Some 720,000 properties, including many smaller retailers, continue to pay no rates thanks to the small business rates relief. That is over one-third of properties, with an additional 76,000 benefiting from reduced bills.

On the amendment from the noble Baroness, Lady Hayman, the Government’s view is that the existing eligibility criteria ensure that the relief effectively targets the smallest businesses, where help is needed most, and provides a good balance between support and the costs to the Exchequer. In addition to that existing relief, we have chosen to provide extensive support where it is needed, with £13.6 billion announced last autumn.

It is important for businesses to understand whether they are eligible for reliefs such as the small business rates relief, and the sources of information that they can rely on. Local authorities have a vital role in communicating with local businesses, including high- lighting available reliefs and explaining other changes in the business rates system. Businesses are encouraged to approach their local billing authority for advice on what support is available. This year the Government updated their own extensive guidance on GOV.UK about business rates reliefs, including the small business rates relief. We work closely with the Local Government Association, the Institute of Revenues, Rating and Valuation and individual authorities to understand what works locally, and we will continue to engage with the sector to ensure that aspects of the rates system, such as the small business rates relief, are working effectively.

In the absence of the Minister, my noble friend Lady Scott of Bybrook, I have attempted to explain the context of the Government’s review, how the Government continue to support small businesses with their tax liabilities, and the sources of practical information available to ratepayers. The Government’s firm view is that the recent comprehensive review was thorough and its conclusions clear, and therefore that no further review is needed at this time. On that basis, I hope that noble Lords will not press their amendments.