Plant and Machinery

HC Deb 11 June 1991 vol 192 cc485-6W

Mr. Burns

To ask the Secretary of State for the Environment if he will undertake a review of the rating of plant and machinery.

Mr. Portillo

We have decided to establish a small expert committee to review the rating of plant and machinery. Much of the existing law has remained substantially unchanged for almost 30 years and has become outdated as a result of technological change. The committee will have the following terms of referenceTo consider the present law and practice in regard to the rating of plant and machinery in the United Kingdom; to make recommendations as to the principles that should be prescribed to comprise the extent of rateable property, having regard to the financial and other considerations involved, and with a view to removing inconsistencies and harmonising the law and practice in all parts of the United Kingdom; and to make proposals for giving effect to the recommendations.

It will be asked to report by 31 December 1992, so that any recommendations can be implemented for the 1995 revaluation of non-domestic property.

The chairman of the committee will be Mr. Derek Wood, QC. The other members will be decided after consultation with interested bodies.