To ask the Minister of Finance to detail the steps he is taking, with regards rates for small business owners, in order to enable them to better compete with online retailers.

Since I became Minister in January 2020, I have taken a number of steps to help small businesses. For example, in response to the finding in the Review of Business Rates that the rates burden on businesses was too high, I reduced the regional business rate by 18% in 2020, and held the reduced rate for the current year as well. I also renewed the Small Business Rate Relief scheme, through which over £19 million support is awarded each year to small businesses located in town centres.

Many businesses, including small business owners, have also benefitted from over £515 million of rates relief which I have provided through the current rates holidays. These measures have seen many small businesses pay no rates at all for two years.

I have also directed Land & Property Services to carry out a revaluation of Non-Domestic properties with a new valuation list coming into effect on 1st April 2023, based on the property market in October this year. This will ensure that businesses are paying rates based on values which take account of the market changes.

The taxation of online shopping is not a devolved matter. The British Chancellor recently announced that the Treasury will undertake a public consultation on the possible introduction of an online sales tax. I will take a close interest in the outcome of this exercise and the knock on effect here.