The Conservatives have promised to abolish business rates for some shops and pubs if they win the next election.
Speaking at the party’s conference in Manchester, shadow chancellor Sir Mel Stride said the move would be funded by getting “public spending under control”.
The party said its policy would cost £4bbn a year and will benefit about 250,000 businesses in total.
Addressing the conference, Sir Mel said businesses needed “hope” as he set out a “radical plan” to rebuild the economy.
“Under Labour, many have seen their business rates double,” he said.
“We need to get business rates down. In fact, we need to go further – much, much further.
“So, today I can announce that as a direct result of getting public spending under control, a future Conservative government will completely abolish business rates for shops and pubs on our high streets.
“End of. End of. Finished. Gone.”
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