The Press and Journal (Inverness, Highlands, and Islands)

Tories promise busi­ness rate cuts

- Taxes · Politics · Elections · Brexit · Business · British Politics · European Politics · Tories · Boris Johnson · Small Business Administration · Confederation of British Industry · UK News

The prime min­is­ter will tell busi­ness lead­ers the Tories will put an end to Brexit “un­cer­tainty and con­fu­sion” if they are re­turned to power on De­cem­ber 12.

Boris John­son made the pledge as he un­veiled tax cuts his party said are de­signed to help com­pa­nies “make the most of Brexit”.

A Tory gov­ern­ment would cut busi­ness rates, launch­ing a fun­da­men­tal re­view at their first Bud­get, un­der the plans.

The party said it will in­crease the em­ploy­ment al­lowance from £3,000 to £4,000, pro­vid­ing a tax cut of up to £1,000 for more than half a mil­lion busi­nesses.

The R&D tax credit rate will in­crease from 12% to 13%, which the

Con­ser­va­tives say will boost man­u­fac­tur­ing and the pro­fes­sional, sci­en­tific and tech­ni­cal ser­vices sec­tors in par­tic­u­lar.

They have also promised to in­crease the struc­tures and build­ings al­lowance (SBA) from 2% to 3% to in­crease the tax re­lief on the pur­chase, build­ing or leas­ing of a struc­ture.

In a speech to busi­ness lead­ers at the Con­fed­er­a­tion of Bri­tish In­dus­try an­nual con­fer­ence to­day, Mr John­son is ex­pected to say: “Let’s not beat around the bush, big busi­ness didn’t want Brexit.

“You made that clear in 2016 and this body said it louder than any other.

“But what is also clear is that what you want now – and have wanted for some time – is cer­tainty.

“So that you can plan and in­vest, so you can grow and ex­pand, so that you can cre­ate jobs and drive pros­per­ity.”

He is ex­pected to add: “Whilst you didn’t want it, the peo­ple did vote for it. And so it was for politi­cians to de­liver it.

“It has been politi­cians in a bro­ken Par­lia­ment – not you – that have failed in this and in some cases ac­tively tried to sab­o­tage the demo­cratic will of the peo­ple.

“This is why we had to have this elec­tion.”

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Boris John­son

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