Lib Dems to scrap business rates to "breathe new life" into Weston's High Street

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 Weston-super-Mare.

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 19% in North Somerset, including Weston-super-Mare and the surrounding villages.

By taxing landowners rather than businesses, half a million small businesses across the country would be spared the burden of property taxation.

Liberal Democrat candidate Patrick Keating said:

"Many retailers and small businesses in Weston and the surrounding area are under pressure from
economic uncertainty, the rise of online retail and the burden of business rates.

"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."

ENDS

Notes to Editors

The Liberal Democrats have proposed that:

Business rates should be abolished and replaced by a Commercial Landowner Levy based on the value of commercial land only

The levy should be paid by owners rather than tenants

Commercial land should be taxed regardless of whether the buildings above it are occupied; the tax should also apply to unused and derelict commercial land