§ 37 and 38. Mr. Sparksasked the Chancellor of the Exchequer, (1) what estimate he has formed of the effect upon Treasury revenue and expenditure of the repeal of industrial derating;
(2) the loss to the rate revenue of local authorities from the derating of industrial hereditaments in the nearest convenient year.
§ Mr. H. BrookeAt 1st April, 1954, the aggregate rateable value of the property in Great Britain which had the benefit of industrial derating was about £15 millions. The repeal of industrial derating would have such widespread ramifications on Exchequer revenue and expenditure, that I am afraid I cannot give the hon. Member any firm estimate.
§ Mr. SparksIn view of the publications now issuing from the Conservative Party Central Office, may I ask whether it is the policy of the Government to repeal industrial derating at an early date?
§ Mr. BrookeThe Minister of Housing and Local Government has said that a review is being undertaken of all aspects of local government, and that will include the question of the derating of industry.
§ Mr. JayCan the right hon. Gentleman make this clear? Are the Government in favour of abolishing the derating of industry?
§ Mr. BrookeThe Government, very wisely, do not make up their mind until they have carried out a review.