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Written question asked by Lord Freyberg (Crossbench) on Thursday, 26 March 2026, in the House of Lords. It was due for an answer on Monday, 13 April 2026. It was answered by Lord Livermore (Labour) on Monday, 13 April 2026 on behalf of the Treasury.

Recording Studios: Business Rates

Question

To ask His Majesty's Government what assessment they have made of the net fiscal effect of the 2026 non-domestic rating revaluation on the commercial recording studio sector; whether any projected increase in non-domestic rates yield has been set against the risk of lost income tax, National Insurance contributions, corporation tax, and VAT receipts arising from commercial recording studio closures and the relocation of recording activity overseas; and whether they intend to monitor those fiscal effects over a five-year period.

Answer

No such estimates have been made. In recognition of the impact of the revaluation on bills, the Government has introduced a support package worth £4.3 billion to protect ratepayers against large overnight increases in bills.

Recording studios are a vital part of the infrastructure of the music industry. The Government is doubling funding for the Music Growth Package, which will support the music ecosystem across both live and electronic music – from grassroots venues, festivals, recording and rehearsal studios to artists, songwriters, independent labels, managers, and promoters working in all genres of music.

The Government will continue to engage closely with the sector to understand ongoing pressures and ensure the UK remains a globally competitive place to create, record and produce music.

Secondary information

Type
Written question
Reference
HL16079
Session
2024-26
Grouped for answer
Yes
Subjects
Business rates Valuation Recording studios
Link
View this Written question on www.parliament.uk