The Liberal Democrats have announced plans to scrap business rates and replace them with a landowner levy, to "breathe new life" into high streets in Hull if a Lib Dem Government is elected.
The party would replace business rates with a commercial landowner levy, based on the value of the land only. This would take the cost off businesses and help support high streets.
The proposals would cut taxes for businesses by 28% in Hull.
By taxing landowners rather than businesses, small businesses in Hull can thrive instead of being overwhelmed by large rates that so many small business’ struggle with.
Liberal Democrat Shadow Cabinet Councillor for Business Jackie Dad said:
"We know in Hull many retailers and small businesses are under pressure from economic uncertainty, the rise of online retail and the burden of business rates, they deserve a better deal.
"Yet this Conservative government is failing to get to grips with the crisis facing our high streets. Time and again they have promised reviews of business rates but have failed to act – we see the effect this has on our high streets first-hand.
"The Liberal Democrats will shift the tax burden from tenants to landlords, so we can breathe new life back into our high streets. We will build a brighter future, giving local businesses here in Hull the certainty and support they need to thrive."