§ Mr. Pageasked the Minister of Housing and Local Government and Minister for Welsh Affairs if he will make a statement about the next revaluation for rates.
§ Mr. H. BrookeUnder the existing law, new valuation lists for local rates are due to come into force in England and Wales in April. 1961, with all properties assessed on the basis of current market rentals, whereas at present residential property is assessed on the 1939 basis and all other property on the 1956 basis. The Valuation Office has advised, however, that in respect of residential property there is not and will not be sufficient evidence of open market rentals available in time to form the basis of a reliable revaluation by 1961. The Government therefore propose to defer the general revaluation for two years, and a short Bill for the purpose, limited to England and Wales, will be introduced at an early date.