Debate Magazine

Yeah! Go Lib Dems!

Posted on the 18 November 2019 by Markwadsworth @Mark_Wadsworth

Jo Swinson doesn't seem to grasp the logic behind LVT, she's mis-selling it, but good stuff nonetheless from The Daily Mail:
Ms Swinson told delegates:
"The Liberal Democrats are committed to supporting small businesses who are the engine of our economy. That's why the Liberal Democrats would scrap business rates and replace them with a commercial landowner levy. It will shift the burden from the tenant to the landlord so that we can breathe new life into our high streets... It is time for clear action that will give proper help to our small businesses."
Ripping up business rates was mooted by the party in August 2018 by the then leader Vince Cable in a report called Taxing Land, Not Investment. It made clear the levy would be paid by owners, not tenants, and that 'non-residential stamp duty should be scrapped to improve the efficiency of the commercial property market.
Ms Swinson added: "Let's remember what the issues are that we're trying to solve here - businesses on the high street have been struggling for many years now and they find the business rates can be a crippling cost and this is at a time when they're already having to deal with footfall falling, competition from online competitors where they aren't having to pay the same type of rates.
"So I think this is an important change, and clearly it being borne by landlords - some of that may well be passed on but we also recognize it will not all be - and this will provide a significant boost for businesses."

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