The Lib Dems would deliver tax reforms to ‘revive struggling high streets,’ leader Sir Ed Davey has announced.
Under the proposals, business rates would be replaced with a new commercial landowner levy, with local authorities still able to keep half of tax returns from businesses.
The Lib Dems said the reforms would ‘slash the burden’ on struggling high street shop owners and ensure landowners ‘pay their fair share’.
It said the levy would be based on the land value of commercial sites, with the tax increase for landowners phased in over four years.
Sir Ed added: ‘High streets are the life and soul of our communities, but for too long they have been ignored and let down by this Conservative Government.
‘We must restore our town centres by taking bold action.’
