To ask Her Majesty's Government with reference to the paper deposited in the Library of the House on 1 April 2009 (DEP2009-1056), whether they will publish an updated chart with the (a) pre-review, and (b) post-review, (1) total rateable values, and (2) number of hereditaments, for port and non-port companies, broken down by port across England and Wales, according to the most recent records held by the Valuation Office Agency. [HL2972]
A revised table of pre-review and post-review assessments with an effective date of 1 April 2005 will be placed in the Library.
To ask Her Majesty's Government what is the estimated cost to (a) local authorities, (b) the Valuation Office Agency, and (c) the Exchequer, of administering and enforcing the new arrangements for business rates on firms in ports, including the cost of the deferment scheme. [HL2976]
No estimate of the cost to local authorities, the Valuation Office Agency and the Exchequer has been made for administering and enforcing arrangements for business rates on firms in ports, as the addition of new properties to the ratings list is part and parcel of the ongoing rating system.
The cost of the schedule of payments scheme to the Exchequer is set out in the impact assessment accompanying the Non-Domestic Rating (Collection and Enforcement) (Local Lists) (England) (Amendment) Regulations 2009 (SI 204). It estimates the cost of the scheme as being revenue neutral for local authorities and £33 million over the life of the scheme to the Exchequer. There is no cost associated for the Valuation Office Agency with this scheme.
The schedule of payments scheme was implemented as a result of the Government having listened to the concerns of businesses with significant and unexpected backdated bills, including some businesses within ports. The scheme enables such bills to be repaid over an unprecedented eight years rather than in a single instalment, helping affected businesses to manage the impact on their cash flows during the downturn by reducing the amount they are required to pay now by 87.5 per cent.