By Hugh Radojev2019-11-15T07:09:00
The British Retail Consortium has said Conservative Party proposals on business rates must go further, after the Tories promised to extend the retail discount on business rates.
In a bid to court businesses and retailers, the Conservative Party have said that if it won a majority and the upcoming election it would “extend the retail discount on business rates to 50% next year” for businesses with a rateable value of less than £51,000.
The party said this would “increase the retail discount from 33% to 50% in 2020/2021” and would effectively be a £280m tax cut for small businesses.
However, in a statement, the BRC said extending the discount to small businesses did not go far enough to save the UK’s suffering high streets and retailers.
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