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England’s hospitals and police stations will be forced to pay a new “tax” under “ill-thought-out” plans to ease pressure on the high street, analysis shows.
Universities, prisons, army barracks and even the Treasury headquarters in Westminster will also be affected by the tax increase, according to commercial real estate firm Altus.
Rachel Reeves said in the Budget that Labor plans to reduce the burden of business rates on smaller businesses with a permanent cut to the “multiplier” used to calculate their taxes.
‘Badly thought out’: hospitals and police stations in England will be forced to pay a new ‘tax’
This will be paid for with a new higher multiplier for more expensive properties aimed at capturing warehouses used by large online retailers.
However, Altus figures show that while this charge will cover 1,589 department stores, it will also affect 15,278 non-domestic properties, including 297 NHS hospitals, 310 universities, army barracks and court buildings. Altus’ Alex Probyn said it was “poorly thought out”.
The Treasury said it was “working with interested parties to finalize the plans”.
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