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Rishi Sunak urged to cut business rates to unlock billions in investment

Employers’ groups warn ahead of budget that failure to take action would hit UK’s economic ambitions

Employers’ groups representing more than a quarter of jobs in Britain have called on Rishi Sunak to cut business rates in the budget later this month to unlock billions of pounds of investment in the economy.

In a joint statement ahead of the chancellor’s post-lockdown budget, the Confederation of British Industry (CBI) and 41 other leading trade groups are demanding fundamental changes to the system, which taxes companies based on the premises they occupy.

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