Originally written by Timothy Adler on Small Business
Jeremy Hunt has pledged to exempt hundreds of thousands of small businesses from business rates if he becomes Prime Minister.
Tory leadership contender Jeremy Hunt intends to scrap taxes for nine out of 10 high street shops in a bid to save the high street.
Experts have warned that high streets face the loss of 200,000 jobs unless the Government acts to revive traditional town centres hit by the rise of internet shopping.
The move will save newly exempted businesses up to £6,500 each, and will scrap taxes on 24,500 businesses based in Birmingham (5,000), Manchester (8,000), Leeds (6,000), Newcastle (2,000) and Bristol (3,500).
Hunt has already promised to cut corporation tax from 19pc to as low as 12.5pc, a policy which has been costed at £13bn a year.
The Foreign Secretary, who is never afraid to brandish his entrepreneur credentials, told the Daily Telegraph that his proposals would “give a new lease of life to the British high street” and provide “hard working local businesses an enormous cash boost”.
“My blueprint will give a new lease of life to the British high street and give our hard working local businesses an enormous cash boost,” he said.
“It was once

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