The Liberal Democrats have pledged to abolish business rates in favour of a commercial landowner levy, if the party were to succeed at the upcoming general election.
Speaking at the Confederation of British Industry conference earlier today, party leader Jo Swinson said the move would “shift the burden from the tenant to the landlord, so that we can breathe new life into our high streets”.
She said: “Frankly, we have seen enough promises of reviews of business rates from the Conservatives. It is time for clear action that will give proper help to our small businesses.”
Swinson also outlined plans to spend £5bn on a new green investment bank, for investment in zero-carbon initiatives.
The news comes after the Conservative Party said it would seek to lift the “overall burden” of business rates at its first Budget review, if it wins the December election.
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