Labour Party Plans to Overhaul UK Business Rates to Help Small Firms.

The Labour Party in the UK has announced plans to overhaul the country's business rates system, a property tax on commercial premises, in order to support small businesses and create a level playing field between high street and online retailers. The party aims to crack down on late payments, help small businesses compete for public contracts, and ensure access to high street banking services. While the party has not provided specific details on the overhaul, lobby groups have long called for reform of the tax. The business rates system currently generates almost £30 billion in revenue for the government. [Extracted from the article]

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