Council Tax Valuation Bands Bill [HL]
Debate between Lord Marlesford and Lord Flight
Lord Flight
On both death and gifting, valuations are required for IHT and capital gains tax reasons, so it is going to happen automatically, anyway.
Lord Marlesford
Exactly, there are valuations in those cases. But there is a very big difference between doing it just for those and doing it for everything. The argument has always been that we cannot have a complete revaluation. The Minister used again that very old argument, which I reject, and I have tried to meet it by saying that, fortunately, we have the Land Registry and, fortunately, for well over half of dwellings at the moment, we have the actual prices that have been paid. As for the poorer people at the bottom of the market, very few people at that end will find that they pay a higher council tax. The movement in my banding from £40,000 to £250,000 would include virtually all the people in band A anyway—it is very unlikely that people would find themselves in band B. Quite a lot of the people currently in band B will remain in band B, because that goes up to £500,000. So there is a certain automatic adjustment from the price mechanism and the market in that respect.
I shall not continue now, because a lot of these points need to be studied in detail. I hope that the Government will show themselves perhaps a trifle more open-minded, rather than merely trying to produce old and jaded arguments and persuade some unfortunate Minister to put them forward for them. I ask the House to be graciously prepared to give this Bill a Second Reading.