BRC criticises Conservatives’ business rates proposals
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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