MP backs Parliamentary Bill to abolish business rates

South Lakes MP Tim Farron has put his name to a new Parliamentary Bill to abolish business rates to save jobs and businesses on the high street.

The Abolition of Business Rates Bill was introduced to Parliament this week by Thirsk and Malton MP Kevin Hollinrake, with the intention of creating a more level playing field between online retail giants and local high street businesses.

Business rates currently cost businesses £25bn a year, while the Government estimate that their new Digital Sales Tax will generate just £0.5bn over the same time period.

The bill will have its Second Reading in the House of Commons later this month.

Commenting on the bill, Tim said: "I've long been campaigning for business rates to be scrapped and so I'm delighted to back this new bill in Parliament.

"The pandemic has dealt a bitter blow to local shops and businesses who have seen their sales completely collapse.

"If we are truly committed to saving our high streets, then we need to stop taxing them to death."