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Tories pledge new review of business rates

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  • by Colin Marrs
  • in 151 News
  • — 21 Nov, 2019
The Conservative Party will undertake another review of business rates with a view to cutting tax levels if re-elected, prime minister Boris Johnson announced this week. In a speech to the Confederation of British Industry conference, Johnson said: “We will have a big review of business rates. Cutting rates further, particularly for SMEs to help, above all, to stimulate the high street.” The government undertook a comprehensive review of business rates at the Budget in March 2015, publishing its response a year later. Robert Hayton, head of UK business rates at real estate adviser Altus Group, said: “Essentially we will be going over old ground with the tough questions having already been asked albeit that review was fiscally neutral. “Business, of all sizes, will however be delighted to hear of the commitment to lower the overall burden as we are far too reliant upon property for tax revenues with U.K. property taxes the highest across the European Union and the standard rate of tax at its highest level since 1990.“
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  • 151 BRIEFS – WHAT’s NEW?

    • Homes England agrees strategic partnership with two authorities
    • Soaring inflation and pay pressures to add £3.6bn to council budgets
    • Underfunded social care reforms could ‘exacerbate workforce pressures’
    • Nottingham City Council leader labels proposed intervention as ‘disappointing’
    • Government preparing to intervene in Nottingham City Council
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