BUSINESS RATES SCRAPPED
The Liberal Democrats pledge to replace Business Rates in England with a Commercial Landowner Levy based solely on the land value of commercial sites rather than their entire capital value, thereby stimulating investment, and shifting the burden of taxation from tenants to landowners.
Paul has long championed scrapping business rates and is delighted it’s now Lib Dem policy. All our high streets need some love and support. This is evidently clear with our high streets in Waterlooville and Havant, with many shops vacant and derelict.
Often smaller businesses simply cannot afford to keep trading under the current business rate arrangements. With Paul and the Lib Dems, all that would change. We want to make our high streets vibrant and full of a vast array of shops. Not only does this mean more jobs but gives residents more reason to shop locally than having to go further afield to Portsmouth or Southampton.
How does the Levy work? It would remove buildings and machinery from calculations and tax only the land value of commercial sites, boosting investment and cutting taxes for businesses in nine out of ten English local authorities.