§ Mr. HanleyTo ask the Secretary of State for the Environment what is the estimated business rate, in tabular form, for shops with a floor space of 500 sq ft, 2,000 sq ft, 5,000 sq ft, and 10,000 sq ft for each of the years 1989–90 to 1994–95 if situated in Sheen road, Richmond, showing percentage increases for each year over the actual for 1989–90.
§ Mr. ChopeIt is not possible at this stage to make the estimates for which the hon. Member asks.
My right hon. Friend announced on 6 November his provisional view that the national non-domestic rate poundage for 1990–91 would be 36 pence. In subsequent years the poundage will increase by the rise in the retail price index or by such lesser amount as the Chancellor of the Exchequer determines.
The valuation office is currently carrying out a revaluation of non-domestic property and is required to deposit with local authorities the new rating lists in draft by 31 December.
There will be transitional arrangements to phase in the effect of the uniform business rate and the revaluation. The maximum increase in rate bills for properties in London will be 20 per cent. in real terms for those with new rateable values of £ 15,000 and above and 15 per cent. for those with values between £500 and £14,999. Large reductions in bills will also be subject to phasing.