Valuation office

Richard Younger-Ross
To ask the Chancellor of the Exchequer if he will direct the Valuation Office Agency to take steps to reduce the financial effects on port businesses of its retrospective revaluation of hereditaments in ports.

Ian Pearson
The Valuation Office Agency (VOA) has a statutory duty to maintain the rating lists. When the VOA becomes aware a change is needed they are under an obligation to take action to alter the rating list in accordance with the legislation. It would be inappropriate for the Agency to be directed to not undertake its statutory obligation.

The Government have listened to the concerns of businesses with significant and unexpected backdated bills, including some businesses within ports. They have legislated to enable 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.