Labour Party states business rate reform is a priority if they win at next general election

Shadow Secretary of State for Business & Industrial Strategy Jonathan Reynolds claims the current business rates’ system is “archaic” and reform would be a priority for the next Labour government.

Speaking at the UK Hospitality summer conference in London this week he pledged to support regenerating British high streets and that reforming business rates was a Labour priority.

As the Conservative government faces two, possibly three, by-elections in the coming months, Labour is keen to nibble away at the Tory majority as well as claim any by-election victories are a precursor for the next General Election.

Reynolds told the UKH delegates: “Labour…. will be judged on how our high streets look and feel, by working people having more money at the end of the month to treat themselves and their families, by business thriving and investing. It requires a Government that’s in the picture when it comes to businesses’ needs.”

Reynold went on to blast the current business rates system, which has already seen some reform under the present Government but this has, so far, received a mixed reception from business. He said: “We also want to pay particular attention to the problem with business rates. We believe the system is archaic and holding back firms.”

He went on to say the planning system also needed an overhaul to ensure businesses can “grow and breathe life back into high streets.”

You can read his fuller comments here: