Labour Pledges to Boost UK Economy by Scrapping Business Rates and Revitalizing High Streets

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Labour's Plan for Small and Medium Enterprises

Labour will unveil their plan to boost Britain's economy by ripping up business rates and taking over empty high street shops. Shadow Business Secretary Jonathan Reynolds will outline the party's proposals at the first of a series of "business roadshows" to be held across the country.

Cracking Down on Late Payments

As part of their plan, Labour will crack down on late payments to small business owners by introducing tough new laws.

Replacing Business Rates

Labour's plan includes scrapping business rates and replacing them with a system that "rewards expansion rather than disincentivising it".

Boosting Skills with Technical Excellence Colleges

Labour pledges to boost skills by creating new technical excellence colleges. These colleges will work with industry to ensure that young people are being taught the specific skills needed in their area.

Revitalizing High Streets

Labour's plan also includes triggering a high street boom by revitalizing decaying town and city centers. Councillors will be given permission to take over empty shops without owners' permission, and new high street police patrols will be introduced to ensure safety.

Promoting Construction and Property Industry

Labour will promise to build 1.5 million homes over the next parliament to boost opportunities for construction workers and the property industry.

Labour's Commitment to Backing British Business

Shadow Business Secretary Jonathan Reynolds emphasizes Labour's commitment to backing British business. He believes that a better relationship between government and the private sector is crucial to fixing major economic issues.

Mr. Reynolds states, "Britain is brimming with driven entrepreneurs, and Labour will work hand in hand with them to ensure the next Labour Government is offering the firm foundations they need to prosper and grow."

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