Labour Party Plans to Overhaul UK Business Rates to Help Small Firms
- Pledge part of package of measures to boost small businesses
- Lobby groups have long campaigned for business rates reform
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Keir Starmer’s Labour party vowed to “level the playing field” between high street and online retailers by overhauling UK business rates — a property tax on commercial premises — if it’s voted into power at next month’s general election.
The overhaul of the unpopular business rates system forms part of a wider package of measures geared toward helping small businesses that also includes cracking down on late payments and helping them compete for public contracts, Labour said late Friday in a statement.