Source · Select Committees · Culture, Media and Sport Committee
Recommendation 22
22
Accepted
Prioritise growth sectors like film and HETV in business rate reforms to support investment.
Recommendation
In delivering its promised reform of business rates, the Government should prioritise growth sectors such as film and HETV and ensure reforms support, rather than undermine, investment in them. (Recommendation, Paragraph 81)
Government Response Summary
The government has accepted the recommendation, stating it is transforming business rates in co-design with creative sectors and has already introduced a 40% reduction for film studios until 2034. It will publish an interim report on business rates reform this summer with further policy details by Autumn Budget 2025.
Government Response
Accepted
HM Government
Accepted
The government is transforming business rates over the course of this Parliament, co-designing a fairer system with stakeholders including those in the creative sectors. We have already introduced a 40% reduction on business rates for eligible film studios in England until 2034. We are also supporting cinemas and other creative industries venues through permanently lower business rates multipliers for Retail, Hospitality and Leisure premises with rateable values under £500,000 from 2026/27. In the summer, the government will publish an interim report that sets out a clear direction of travel for the business rates system, with further policy detail to follow at Autumn Budget 2025.