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Tories Pledge to Scrap Business Rates for Shops and Pubs
The Conservative Party plans to boost the high street economy by abolishing business rates for 250,000 shops and pubs, aiming to protect jobs and reduce tax burdens.
- At the Conservative Party conference on Monday, Shadow Chancellor Sir Mel Stride announced a pledge to abolish business rates for high-street shops and pubs under a future Conservative government.
- Framing the plan financially, the party proposes to cut £47 billion from public spending by restricting welfare, shrinking the Civil Service and slashing aid to fund abolishing business rates.
- The Conservatives estimate the cost at £4 billion, saying it would protect jobs at 250,000 businesses across the UK and that local councils will be `fully compensated` by central government.
- Trade bodies welcomed the boost but said reforms must go further, with Rain Newton-Smith, chief executive, CBI, urging fundamental change and a Labour spokesperson criticizing Conservatives for unclear funding.
- Looking at wider finances, the proposals would reduce the Civil Service to its 2016 size and cut aid spending to 0.1% of national income, while Sir Mel Stride said taxes will be cut only `when it is affordable`.
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Evening StandardReposted by 
Gazette & Herald
Gazette & HeraldTories pledge to scrap business rates for shops and pubs
Sir Mel Stride made the commitment as he addressed the Conservative Party conference.
·London, United Kingdom
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The IndependentReposted by 
The Independent (US)
The Independent (US)Tories to ditch business rates for pubs and shops if they win election
Sir Mel Stride made the commitment as he addressed the Conservative Party conference
·London, United Kingdom
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Tories pledge to abolish business rates on the high street - London Business News
The Shadow Chancellor Mel Stride has promised during the Conservative Party conference on Monday that they will scrap business rates for pubs and shops if they win the next general… The post Tories pledge to abolish business rates on the high street appeared first on London Business News
Coverage Details
Total News Sources8
Leaning Left2Leaning Right1Center4Last UpdatedBias Distribution57% Center
Bias Distribution
- 57% of the sources are Center
57% Center
L 29%
C 57%
14%
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