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Business Rates (Greater London)

March 5, 2002

Question written on 05/03/2002

To ask the Secretary of State for Transport, Local Government and the Regions how much revenue was raised from the business rate in the Greater London area during (a) the last 12 months and (b) each year since 1992.

Answered by Alan Whitehead

The table gives the revenue raised from business rates in Greater London for 199192 to 200001, and estimated revenue from business rates for 200102 and 200203. This information is based on returns provided by London boroughs and the City to the Department. billion Net business rate yield1991923,2111992933,2721993943,1491994952,8451995962,8021996973,1911997983,0901998992,793199920002,8102000013,1172001023,5522002033,804Revenue from business rates between 199192 and 200001 is based on local authorities’ outturn net yield figures shown on the national non-domestic rates return (NNDR3). Figures for 200102 and 200203 are based on the local authorities’ net rate yield figure shown on the national non-domestic rates return (NNDR3). The net rate yield is the amount of business rates local authorities expect to collect.