Saturday, October 27, 2018

Cable: Broken business rates system should be abolished

Leader of the Liberal Democrats Vince Cable has warned that the Chancellor's business rates relief is nothing more than "hand-to-mouth support" and has called for the broken business rates system to be abolished. 

Liberal Democrat leader Vince Cable said: 

"The UK high street is suffering the worst year on record, with in-store sales falling and hundreds of thousands of jobs lost. 

"While I welcome any relief, hand-to-mouth support for businesses simply isn't sustainable. Liberal Democrats demand better. There needs to be a fundamental change to the system. 

"We must create a level playing field between the high street and online retailers. That means scrapping the broken business rates system and replacing it with a tax on land values that would boost investment and cut taxes for businesses in nine out of ten English local authorities."

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