Business Rates — Question

Part of the debate – in the House of Lords at 3:07 pm on 11th June 2014.

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Photo of Lord Naseby Lord Naseby Conservative 3:07 pm, 11th June 2014

I thank my noble friend for that Answer, and in particular pay tribute to the way in which she has taken forward some of the earlier questions that I have asked on business rates. Is she aware that over the period from 2012 to 2016, business rates will have gone up by 18%? Thankfully, the production from corporation tax will have fallen by 18%. Against that background, is it not time that we had a complete reassessment of business rates and how they affect our high streets? Nowhere else in the world is our high street, or anybody else’s high street, affected by such a fixed-rate tax against, and regardless of, the trading that goes on in the retail scene.