Business Rates

Lord Leigh of Hurley Excerpts

Wednesday 11th June 2014 Lords Chamber

[Baroness Stowell of Beeston]

As my noble friend knows, the way in which the Government consider the tax regime for businesses as a whole is something that we continue to study. Fundamentally, we are anxious to ensure that we have the best tax system for British business and that we continue to encourage growth in this country.

[Lord Leigh of Hurley (Con)]

My Lords, I draw attention to the register of interests in which I disclose that I am a director of Blue Inc, a profitable company with some 200 shops in the UK. Does my noble friend agree that the Labour Party proposals of an annual revaluation of all retail properties to assess rates would just produce another administrative burden on retailers at a time when they least need it?

[Baroness Stowell of Beeston]

The Labour Party policy paper to which I think my noble friend is referring suggests a range of measures. I can be very clear on one measure with which we disagree: a measure to introduce business rates for farmland and farm buildings, which would certainly lead to an increase in the cost of living by forcing up food prices.