Rachel Reeves admits that the British economy is “wedged” as it promises to reduce the commercial prices for High Street – after having lacked businesses with a huge tax raid

Rachel Reeves admitted that the British economy felt today when it promised to relieve the pain of commercial prices for small businesses.

The Chancellor insisted that growth takes place is her “number one mission” and promised “tax reforms” by announcing the overhaul.

The Treasury considers changes to the current tax system on commercial properties in the context of efforts to reduce administrative formalities.

He will focus on the storage room of “cliff edges” which can discourage expansion and investment – potentially benefiting some of the hardest companies compared to the huge national insurance raid of the Labor Party.

Ms. Reeves rushes in the ways of relaunching UK PLC with a critical budget that is looming on November 26. There are fears of more tax increases as it faces a black hole in finances that could be as important as 50 billion pounds sterling.

Under existing rules, when a company opens a second property, it loses access to all prices for small businesses unless it meets specific criteria.

Chancellor Rachel Reeves insisted that growth takes place is her “number one mission” and promised “tax reforms” when she announced the overhaul

The Treasury considers changes to the current tax system on commercial properties in the context of efforts to reduce administrative formalities

This is part of the government’s commitment to examine trade rates more broadly in the midst of assembly calls for businesses and business groups for the wholesale system of the system.

It is understood that the bosses of large companies on rue de la Rue, such as John Lewis, met Ms. Reeves last week and encouraged an upheaval in current commercial prices.

Companies have seen commercial prices increase earlier this year after an initial discount of 75% on rates payments for hotels, retail businesses and leisure firms was reduced to 40% in April.

The government has said that it would also consider other ways to improve trade rates following the merger of the agency of evaluation offices with HMRC.

He said he plans to modify how the tax is calculated to further minimize cliffs and improve the improvement reduction in companies that invest in properties.

Ms. Reeves said: “Our economy is not broken, but it seems stuck. This is why growth is our number one mission.

“Tax reforms such as the fight against cliff edges in business rates and the appointment are more fair to stimulate growth.

“We want to help small businesses develop in new premises and build an economy that works and rewards workers.”

Kate Nicholls, president of the Ukhosity, said: “For too long, the broken trade rate system has unfairly punished host companies and I am happy that the government takes measures to reform it.

“These measures aimed at removing the edges of punitive cliffs and the obstacles to investment are positive and will help rebalance the system, as is the government’s commitment to reduce trade rates for hotel businesses.”

Helen Dickinson, director general of the British Retail Consortium, said that the business prices system is “overwhelmed, too complex and economically damaging”, and she praised government ideas for the reform.

She said: “But for retail companies, the most urgent question is how the government plan for a permanent reduction in commercial prices for retail, hotel and leisure premises will be implemented.

“Currently, retailers represent 5% of the economy, but pay more than 20% of the total bill of commercial prices, which is why these reforms are desperately necessary.

“Until we are clarity on these changes, which is not planned before the budget, many local investments in jobs and stores are selected.”