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 Baroness Stowell of Beeston Baroness Stowell of Beeston The Parliamentary Under-Secretary of State for Communities and Local Government 3:07 pm, 11th June 2014

As the noble Lord knows, we decided to postpone revaluation to provide certainty and stability. The Valuation Office Agency suggests that 800,000 premises would have seen a real-term increase in their rates at a 2015 revaluation had we carried one out. This would compare to only 300,000 seeing reductions, so I suggest the decision that we made was the right one.