New CBI and Avison Young report addresses business rates as a barrier to investment in plant and machinery and to decarbonising commercial property.
Business investment is a core factor of sustainable economic growth and prosperity and should therefore be a pivotal part of rebuilding the economy following the pandemic. However, UK business investment remains weak both relative to historical standards and international peers, which means the potential gains from boosting business investment could be huge. The policy environment needs to provide businesses with the confidence to invest, with tax policy being a key lever the government can use to directly stimulate business investment.
However, there are gaps in the tax system for incentivising investment in commercial property (whether new builds or property improvements), despite investment in commercial property remaining a core part of business investment. On top of this, the business rates system is a key barrier when making decisions to invest in commercial property. While there are many levers the government can use to stimulate business investment, addressing the challenges in the business rates s
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