Further to Question No: 2016/3376
What assessment have you made of the potential impact on London of a business rate revaluation?
Your response being:
'It is difficult to predict with certainty the precise impact of the business rate revaluation in London. Forecasts suggest that the total in London could increase by around 10% £700 million but the precise details will not be known until the valuations for each property are published by the Valuation Office on 30 September. These assumptions were reflected in my predecessor's final budget.
The largest increases are likely to be in central and inner London; some - mainly in outer London - could fall. I am committed to ensuring that any increases in bills are phased in as slowly as possible - ideally with limited changes in 2017-18 - and I will work closely with business organisations in London to campaign against any rises that will damage the city's competitiveness.'
The valuations for each property were published by the Valuation Office on 30 September as you anticipated, can you now give a clearer answer as to the impact especially on SMEs in London generally, and on businesses in central London; and what representations if any do you propose to make?