Non-Domestic Rating (Chargeable Amounts) (England) Regulations 2009

I will try. On the general point about businesses going bust, the recession—from which we are not immune because of what has happened across the globe—has given rise to policy changes and initiatives. For example, we have introduced the fiscal stimulus and rescued the banks; we are ensuring that the banking system is working properly; and £5 billion has gone into the DWP to increase its capacity and to help people move back into the labour market. These are all parts of a package of measures to help dampen the impact of the recession, particularly its impact on employment. Given the environment we are in perhaps I should not press the point, but the noble Earl’s party opposed the fiscal stimulus on the general principle of its effect on business and that recovery from the recession would be made more difficult. On the precise point that he raised, I do not have in front of me that figure of £20.8 billion but I shall write to him on the matter. In principle, two things will happen: first, the business rate will be paid into the fund and, over time, it will be redistributed back to local authorities. There may well be a mismatch in the early years and I shall write to the noble Earl to explain that in more detail. Secondly, no surplus will come out of this for the Government and no cost will go into it; it will be self-financing. It may help the noble Earl if I wrote to him to give him greater clarity on the timescale. Motion agreed.