Feb 28, 2021

Budget 2021: Northern Tory MPs call for business rates cut to 'save High Streets'

Writing to the chancellor ahead of the Budget, the MPs said the tax should be cut from 50% of market rent to 35%. Rishi Sunak has promised to offer businesses support while Covid restrictions remain in place. On Wednesday, Mr Sunak will use the Budget to set out the government's tax and spending plans following a year of financial disturbance and high government borrowing brought on by the coronavirus pandemic. Now a group of MPs from the chancellor's own party - known as the Northern Research Group - have urged him to cut the tax paid by shops. Asked about introducing a sales tax to target online retailers such as Amazon, Mr Sunak said he was trying to reach an international agreement with other countries "On how to tax these large multinational digital companies properly". Meanwhile Labour's shadow chancellor Anneliese Dodds will make a speech arguing that a decade of "Conservative mismanagement of the economy" and "12 months of irresponsible decision making" from the chancellor has financially damaged the country.

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