Question to the Ministry of Housing, Communities and Local Government:
To ask the Secretary of State for Communities and Local Government, what estimate he has made of how much of the government receipt from business rates forecast for 2014-15 will be contributed by food and drink business with a rateable value lower than £50,000.
We have introduced a £1 billion business rate support package for 2014-15 including:
This package will benefit all businesses but particularly those with a lower rateable
value. Local authority forecasts of business rates are not available split by rateable
value threshold or business sector.
As at 31 March 2013, 89% of hereditaments had a rateable value of £50,000 or
lower. As at 31 March 2013, large properties (those with a rateable value equal to
or greater than £50,000) account for 72% of rateable value. These data are taken
from the Valuation Office Agency’s disclosure log, available at the following link:
http://www.voa.gov.uk/corporate/About/Policy/disclosureLogResponses2013.html