§ Mr. RendelTo ask the Secretary of State for the Environment what plans he has to allow those businesses whose rates are being kept up by the transitional arrangements to be reduced to the full amount applicable to their valuation at the next Budget. [37670]
§ Sir Paul BeresfordI shall, before the start of the next financial year, review the limits on reductions in the rates bills of properties in downward transition. A commitment was given to this House to carry out such reviews before the start of each financial year,Official Report, 14 December 1994, column 950.
If no change is made to the limits then, for 1997–98, the bills for properties still in downward transition and with a rateable value of less than £10,000 or less than £15,000 in Greater London, will fall by a further 20 per cent. in real terms. For larger properties this further reduction in bills will be 15 per cent. in real terms.