Election: Business rates top agenda as party leaders address CBI

Corbyn, Jeremy 2

Boris Johnson and Jo Swinson unveiled plans to change business rates, while Jeremy Corbyn pledged to create 320,000 new apprenticeships in a year with changes to the current levy.

Johnson, Corbyn and Swinson all made their election pitches to business today at the Confederation of British Industry conference in London.

The prime minister, who spoke first, pledged to reduce business rates, raise the employment allowance and extend tax cuts for small businesses. He also reversed a plan by former chancellor George Osborne to reduce corporation tax from 19% to 17% by 2020.

Cancelling the corporation tax cut would save £6bn, Johnson said. He added: “I hope you understand that it is the fiscally sensible thing to do.”

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