The policy could exempt over 140,000 small premises from business rates, funded by higher taxes on large warehouses
Burnham's high street rates plan could cost £880m
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Summary
Burnham’s business rates plan to boost high street ‘could cost around £880m’. Forecasts by global tax firm Ryan suggest the policy could exempt more than 140,000 additional small premises from paying business rates altogether. Business rates reforms introduced by the Government in April included a 2.8p business rates surtax on properties with rateable values above £500,000 in England.
Furthermore, However, many small businesses, particularly in the retail, hospitality and leisure sectors, are facing significant increases in tax payments over the next three years. Speaking on LBC earlier this week, Mr Burnham said there is "room for movement on tax" within Labour's manifesto, whilst maintaining his commitment to the party's fiscal rules. The frontrunner to become prime minister this summer has indicated that he plans to cover the cost through higher property taxes for large warehouses, particularly targeting online giants such as Amazon.
Cross-referenced from 4 sources.
Factual coreconfirmed by several independent voices
Burnham’s business rates plan to boost high street ‘could cost around £880m’.
reliability low1/4 sourcesForecasts by global tax firm Ryan suggest the policy could exempt more than 140,000 additional small premises from paying business rates altogether.
reliability low1/2 sourcesBusiness rates reforms introduced by the Government in April included a 2.8p business rates surtax on properties with rateable values above £500,000 in England.
reliability low1/2 sourcesHowever, many small businesses, particularly in the retail, hospitality and leisure sectors, are facing significant increases in tax payments over the next three years.
reliability low1/2 sourcesSpeaking on LBC earlier this week, Mr Burnham said there is "room for movement on tax" within Labour's manifesto, whilst maintaining his commitment to the party's fiscal rules.
reliability low1/2 sources
Reported detailssecondary facts, each attributed to its source
The frontrunner to become prime minister this summer has indicated that he plans to cover the cost through higher property taxes for large warehouses, particularly targeting online giants such as Amazon.
according to The Independent
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He has repeated proposals, first outlined during the Makerfield by-election campaign, for a 50% increase in the threshold for 100% small…
omitted byCenterRight sidecovered byLeft sideIt would also extend the upper threshold at which firms receive tapered relief up to £21,000, from £15,000 currently.
omitted byCenterRight sidecovered byLeft sideForecasts by global tax firm Ryan suggest the policy could exempt more than 140,000 additional small premises from paying business rates…
omitted byCenterRight sidecovered byLeft sideBusiness rates reforms introduced by the Government in April included a 2.8p business rates surtax on properties with rateable values above…
omitted byCenterRight sidecovered byLeft sideHowever, many small businesses, particularly in the retail, hospitality and leisure sectors, are facing significant increases in tax…
omitted byCenterRight sidecovered byLeft side
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