§ 70. Mr. George Grant
asked the Secretary of State for the Environment what proposals he has to make an Order under Section 35(2) of the General Rate Act, 1967, changing the assessment of mineral hereditaments for rating purposes, as if half the royalty was an income receipt and the other half a receipt of capital; and whether he proposes to compensate local authorities for any consequent loss of revenue.
§ Mr. Graham Page
My right hon. Friend's proposals are embodied in the Mines and Quarries (Valuation) Order, 1971, which was laid before the House on 4th March. Authorities which qualify for the resources element of the rate support grant will, in effect, be compensated for their loss of rateable vlaue by receiving a larger share of the grant; a special recalculation of the resources element will be made during 1971–72 to take into account the effect of the Order.