Business Rate Supplements Bill
10:38 am
Nick Raynsford (Greenwich and Woolwich, Labour)
May I take up a couple of the points you have made and refer back to one of the points in your written evidence? You talked about retailers paying about a quarter of all business rates and you estimated that about a quarter of any business rate supplement will be met by your members. The retail sector is very diverse—it includes small shops as well as large ones. Under the design of the scheme, it is proposed that those with rateable values of under £50,000 will be excluded. What is your estimate of the proportion of total business rates paid by your members with rateable values over £50,000?