The Liberal Democrats have announced plans to scrap business rates and replace them with a landowner levy, to “breathe new life” into high streets in North Hertfordshire.
The party would replace business rates with a commercial landowner levy, based on the value of the land only. This would take the cost off businesses and help support high streets. The proposals would cut taxes for businesses by 13% in the Constituency.
By taxing landowners rather than businesses, half a million small businesses across the country would be spared the burden of property taxation.
Lisa Nash, Liberal Democrat candidate for Stevenage, said:
“Many retailers and small businesses in Stevenage constituency are under pressure from economic uncertainty, the rise of online retail and the burden of business rates. We can see this in the number of empty units in our town centre and high streets in the town and villages.
“Yet this Conservative government is failing to get to grips with the crisis facing our high streets. Time and again they have promised reviews of business rates but have failed to take action.
“The Liberal Democrats will shift the tax burden from tenants to landlords, so we can breathe new life back into our high streets. We will stop Brexit and build a brighter future, giving local businesses the certainty and support they need to thrive.”