Conservatives Pledge Abolition Business Rates High Street Pubs Shops Election

The Conservative Party, led by Shadow Chancellor Sir Mel Stride, has pledged to abolish business rates for high street pubs and retail shops if it wins the next general election, positioning this as a key part of a broader economic recovery plan. This policy, expected to cost £4 billion, aims to support around 250,000 businesses and protect jobs, especially for young people, with councils to be fully compensated by central government. Alongside this, the Conservatives plan to cut £47 billion from public spending by reducing welfare payments, shrinking the civil service, and slashing overseas aid, emphasizing fiscal responsibility and avoiding unfunded tax cuts. The welfare reforms include restricting benefits to UK citizens while allowing EU nationals with settled status to remain eligible, and offering treatment instead of benefits for people with less severe mental health issues. Additionally, a £5,000 national insurance rebate for young people entering their first full-time job was announced as part of efforts to encourage employment and economic growth. These proposals were delivered amid challenging polling for the Conservatives, who seek to regain public support by promising to reduce the tax burden on businesses and promote conservative fiscal values.