Council Tax

Lord Leigh of Hurley Excerpts

Thursday 22nd July 2021 Lords Chamber

[Lord Greenhalgh (Con)]

My Lords, we have looked at putting on hold the reform of the local government finance system because of the pandemic, and further reforms will be potentially be brought forward as a result of the spending review. I note the idea that the noble Lord raises.

[Lord Leigh of Hurley (Con)]

My Lords, I yield to no one in my passionate belief that the state should tax the citizens less, but domestic real estate is by international standards undertaxed. It would not be that expensive to restrict a revaluation to council tax band H properties —perhaps those over a certain current market value. We should then look at empty properties. There are currently 30,000 empty properties in London alone, with a value of £15 billion. They should attract a surtax, along with overseas-owned properties.

[Lord Greenhalgh (Con)]

My Lords, I note that my noble friend again calls for a new, higher band of property. If that higher band were based on 1991 values, the Valuation Office Agency would need to revalue all properties in the current top band. That would certainly be cheaper than a full revaluation.