Lord Leigh of Hurley
Main Page: Lord Leigh of Hurley (Conservative - Life peer)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.
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?
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.