The Conservatives have pledged to eliminate business rates for high street shops and pubs if they emerge victorious in the upcoming election. Shadow chancellor Sir Mel Stride announced this initiative at the party’s conference in Manchester, citing the excessive burden of Labour’s tax increases as the driving force behind the decision.
The party estimates that this policy will cost £4 billion annually and benefit approximately 250,000 businesses. Sir Mel emphasized the need for businesses to have hope, highlighting the significant job losses in the hospitality sector following last year’s budget.
He criticized Labour for imposing numerous new taxes, resulting in the closure of pubs, vacant shops, and deserted high streets. Under Labour’s governance, many businesses witnessed a doubling of their business rates, prompting the Conservatives to take action.
Sir Mel declared that a future Conservative government, by effectively managing public spending, would completely abolish business rates for high street shops and pubs. He positioned the Tories as advocates of fiscal responsibility and contrasted their approach with that of Labour and Reform UK.
The plan to eliminate business rates would be funded by reducing public spending by £47 billion through measures such as cutting welfare payments, downsizing the Civil Service, and reducing aid spending. The proposal aims to provide treatment instead of benefits to individuals with less severe mental health issues, with the ultimate goal of improving their quality of life.
In addition, a future Conservative administration would restrict benefits to UK citizens, with EU nationals holding settled status also being eligible for welfare benefits. Immigration enforcement has been a central theme of the conference, with leader Kemi Badenoch announcing plans to depart from the European Convention on Human Rights (ECHR) and implement «ICE-style» deportations akin to those in the United States if her party secures victory in the next election.
Furthermore, a review into a nationwide exit from the ECHR would be led by shadow Northern Ireland Secretary Alex Burghart, ensuring voters receive a detailed and robust plan. A Labour Party spokesperson criticized the Conservatives for their lack of transparency in funding the abolition of business rates, labeling it as a continuation of the same ineffective policies.
The Conservatives aim to restore hope and vitality to high streets and businesses by relieving them of the burden of business rates, demonstrating their commitment to supporting small businesses and revitalizing the economy.
SOURCE