The Valuation Office Agency (VOA) has published updated revaluation statistics to correct errors in data used to calculate the provisional Local Government Finance Settlement.
In response, Cllr Claire Kober OBE, Chair of London Councils, said:
“We welcome the clarification of these statistics, but are concerned about the lateness of the revision, given how close councils are to setting their budgets. The distribution of millions of pounds of public money depends on correct information from the VOA: the importance of this will only increase as the sector moves to 75% business rates retention from 2020-21.
“This error strengthens the case for the VOA’s work to be devolved to a local level to provide greater local accountability over its performance, give businesses greater certainty and confidence about their business rates bills and add more stability to funding for local services.”
Notes to Editors:
The VOA's update can be found here.