Treasury written question – answered am ar 6 Mawrth 2024.
Rachael Maskell
Labour/Co-operative, York Central
To ask the Chancellor of the exchequer, if he will make an assessment of the potential merits of providing business rate relief to premises which are transitioning to reached energy performance certification levels of C and above.
Nigel Huddleston
The Financial Secretary to the Treasury
At Autumn Budget 2021, the government announced new business rates support for green technology to support the decarbonisation of buildings. This means that eligible plant and machinery used in onsite renewable energy generation and electricity storage are now exempt from business rates. This came into effect on 1 April 2022, and will last until 2035. Furthermore, to incentivise businesses investing in their properties, from 1 April 2024, no business will face higher business rates Bills as a result of qualifying improvements to a property they occupy for 12 months.
Yes1 person thinks so
No2 people think not
Would you like to ask a question like this yourself? Use our Freedom of Information site.
The chancellor of the exchequer is the government's chief financial minister and as such is responsible for raising government revenue through taxation or borrowing and for controlling overall government spending.
The chancellor's plans for the economy are delivered to the House of Commons every year in the Budget speech.
The chancellor is the most senior figure at the Treasury, even though the prime minister holds an additional title of 'First Lord of the Treasury'. He normally resides at Number 11 Downing Street.
A proposal for new legislation that is debated by Parliament.
