Overview

This bill mandates a government review of support for markets and market traders in the UK. The review will assess current support from government and local authorities, explore ways to improve this support to boost market occupancy and profitability, and consider extending business rates relief to certain market operators.

Description

The Secretary of State must conduct a review examining the support provided to markets and market traders. This includes evaluating the adequacy of existing support from both the government and local authorities. The review must also explore options for improving support to increase market and stall occupancy and profitability. A key element of the review involves considering the potential benefits of extending business rates relief to markets operated by local authorities and charitable trusts. The Secretary of State must consult with various stakeholders, including market operators (local authorities, charitable trusts, and private operators), market traders, and relevant representative organizations. A report detailing the findings of this review must be presented to Parliament within 12 months of the bill becoming law. The bill applies to England, Wales, Scotland, and Northern Ireland and comes into effect on the day it is passed.

Government Spending

The bill itself doesn't directly allocate funding. The potential impact on government spending depends on the outcome of the review. Recommendations might lead to increased expenditure on market support or reduced spending through changes to business rates. No specific figures are currently available.

Groups Affected

• Markets and Market Traders: Potentially significant positive impact through improved support and potentially reduced business rates.
• Local Authorities: May experience changes in their financial responsibilities and support obligations for markets within their jurisdictions.
• Charitable Trusts operating markets: Could benefit from potential business rates relief.
• Government: May face increased or decreased spending depending on review recommendations.
• Private Market Operators: May benefit from improvements to support or face changes to their business environment.

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