§ Mrs. Virginia Bottomley
We do not yet have sufficiently detailed forecasts of the likely effects of the revaluation on business property to be able to predict the effect in Nottingham. We would expect businesses in Nottingham to share in the benefit of reduced rate bills which businesses in the North and midlands generally will enjoy as a result of revaluation and the introduction of a uniform business rate.
The uniform business rate will be set at the level necessary to raise nationally broadly the same amount in rates in 1990–91, in real terms, as is raised in 1989–90. So whatever the overall increase in rateable values on revaluation, the uniform business rate will be reduced proportionately.