Overview
- Eurotunnel says its UK business rates would rise from about £22 million to roughly £65 million from April under the revaluation, taking the effective marginal tax on new investment to around 75%.
- The company has halted the planned reopening of the Barking freight terminal and a direct freight service to Lille, shelving roughly £15 million of projects it now deems uneconomic.
- Eurotunnel intends to pass much of any increase to train operators through higher access charges, with about half of business rates costs allocated to high‑speed passenger services such as Eurostar.
- Eurostar warned a tripling of rates for Channel Tunnel users would conflict with UK goals for growth and low‑carbon rail, though it remains committed to fleet investment and new destinations.
- The Valuation Office Agency says next year’s liability is not yet confirmed, it has engaged with Getlink, and formal challenge and appeal routes remain open as the government finalizes policy before the Budget.