Posted 12/25/2023, 10:39:37 PM
Labour Proposes New Shop Bonuses and Tax Holidays to Revitalize High Streets and Combat Shell Companies
- Labour calls for "new shops bonus" to incentivize legitimate businesses over "shell companies" on high streets
- Concern over proliferation of American candy stores on Oxford St, with £9M in unpaid business rates
- Shadow Treasury Secretary pledges Labour government would work with councils like Westminster
- Proposal to replace business rates and offer 3-month tax holiday for new shops in first year
- Westminster Council leader welcomes proposals to "reignite the high street" and restore foot traffic