Labour's Fresh Push for Private Sector Support

In a bid to boost Britain's economy, the Labour party is set to announce plans to revamp business rates and take over empty high street shops. Shadow Business Secretary Jonathan Reynolds will outline the party's strategy for small and medium enterprises in a major speech in Essex, marking the start of a series of "business roadshows" across the country.

Tackling Late Payments and Scrapping Business Rates

Reynolds will pledge to crack down on late payments to small business owners by introducing tough new laws. Additionally, he will promise to scrap business rates and replace them with a system that incentivizes expansion rather than discouraging it.

Boosting Skills and High Street Revival

The Labour party aims to boost skills by establishing new technical excellence colleges that work closely with industries to provide relevant training. Reynolds will also vow to trigger a high street boom by revitalizing local town and city centers. Councillors will be granted permission to take over empty shops without the owners' consent, and new high street police patrols will be introduced to ensure safety and security.

1.5 Million Homes and Strong Government-Business Relationship

To create more opportunities for construction workers and the property industry, Labour plans to build 1.5 million homes over the next parliament. Reynolds emphasizes the need for a better relationship between the government and the private sector to address key economic issues such as low investment, poor productivity, and low growth. He asserts that Labour is committed to supporting British businesses and providing them with the necessary foundations to prosper and grow.