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Labour to scrap business rates if elected, says shadow chancellor

Rachel Reeves says party will also review tax reliefs, suggesting it would target income from buy-to-let property

Labour will scrap business rates and undertake the “biggest overhaul of business taxation in a generation,” the Labour shadow chancellor will say at her speech on Monday, saying the current system punishes entrepreneurs and business investment.

Rachel Reeves will also announce that the party will undertake a major review of existing tax reliefs, suggesting it would target reliefs on wealth such as income from buy-to-let properties.

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