Mr. William O'BrienTo ask the Chancellor of the Exchequer if he will disregard the increase in the rateable value of crime prevention measures where these have been provided at the cost of a tenant when assessing new rateable values for tenanted properties; and if he will make a statement.
§ Mr. NelsonRegulations due to come into effect on 1 April 1995 will require valuation officers to reflect the value of plant and machinery provided for protection of properties from a range of hazards. This will include plant and machinery that is used to protect the property from trespass of criminal damage. It is likely that the impact of these measures will be material where security is an important feature of the property concerned, for example, bullion stores, and likely to be less significant in relation to small businesses.