§ Mr. Nicholas Bennett
To ask the Chancellor of the Exchequer what guidance he has given, or intends to give, to the Inland Revenue in the current revaluation of non-domestic premises in England and Wales prior to the introduction of the non-domestic rate in 1990; and if he will make it his policy to ensure that the seasonal nature of trade in holiday areas is taken into account in fixing new valuations.
§ Mr. Norman Lamont
[holding answer 7 July 1988]: The chief valuer's office is responsible for giving guidance to valuation officers in the compilation of valuation lists. Rating assessments are based on rental values; accordingly, in areas where the seasonal nature of trade has an effect on rental values, this will be reflected in the rating assessments.