§ Mr. Bill WalkerTo ask the Secretary of State for Scotland what arrangements he intends to make for 1992–93 to continue phasing in the effects of the 1990 revaluation.
§ Mr. LangWe are committed to limiting annual increases in non-domestic rate bills resulting from revaluation to a maximum of 20 per cent. in real terms, to 15 per cent. for those ratepayers occupying properties with 605W rateable values of less than £10,000, and to 10 per cent. in the case of part-residential properties with rateable values of less than £10,000.
In order to maintain the level of non-domestic rate income this year, we arranged to limit decreases in non-domestic rate bills resulting from revaluation to 11.5 per cent. in real terms, and to 16.5 per cent. for those ratepayers occupying properties with rateable values of less than £10,000. The limits for those who benefited from the revaluation will reduce by a further 11.5 per cent. and 16.5 per cent. in real terms in 1992–93.
These changes will be set out in regulations which I shall lay before Parliament in the near future. The regulations will prescribe the multipliers to be applied to the rateable values of properties in the valuation roll on 31 March 1990 to determine the upper and lower notional rateable values for the purpose of calculating non-domestic rate bills for 1992–93. The multipliers for the upper limits will be 2.323 for properties with rateable values as at 1 April 1990 of £10,000 or more, 2.045 for those with rateable values of less than £10,000 and 1.871 for part-residential properties with values of less than £10,000. The multipliers for the lower limits will be 0.931 for properties with rateable values as at 1 April 1990 of £10,000 or more and 0.782 for those properties with values of less than £10,000.