Lib Dems commit to scrapping business rates to boost high streets

Replacing business rates with a new, fairer levy on commercial property owners instead of tenants would be a major boost for towns.

Leader of the Liberal Democrats Sir Ed Davey has called for business rates to be scrapped to boost high streets. The Lib Dem policy would aim to tackle one of the key challenges facing businesses and shops, revitalising town centres.

Sir Ed said:

“It is time to put an end to unfair taxes on our treasured high streets. For too long salons, shops and cafes have faced unfair tax bills on top of rising energy bills.

“High streets are the life and soul of our communities, but for too long they have been ignored and let down by this Conservative Government. We must restore our town centres by taking bold action.”

Referring to the Conservative’s 2019 manifesto commitment to reduce business rates and conduct a fundamental review of the system of business rates, the Lib Dem leader continued:

“The Conservative Party has broken promises made to high street businesses. Yet again this is further proof that Conservative manifestos are not worth the paper they are written on.

“Our tax reforms will slash the burden on struggling high street shop owners, and instead ensure landowners pay their fair share.

“Only the Liberal Democrats have a credible plan for reforming business taxes.”

Under Lib Dem plans business rates would be replaced with a new Commercial Landowner Levy that would be paid by the owner of the premises instead of the tenant.

Ed Davey discussed the challenges facing the high street with local business owners on a recent visit to St Neots.

Liberal Democrat Parliamentary Candidate for St Neots & Mid Cambridgeshire, Ian Sollom, said:

“Business rates have long needed to be reformed but Conservative promises to do so have amounted to nothing.

“Particularly here in St Neots, we desperately want change: the current investment in the Market Square and High Street will be much enhanced by scrapping the system of business rates and helping get businesses back into empty properties.

“The Lib Dem plan for a new, fairer levy on commercial property, paid for by owners and not tenants would make a big difference to our town.”