Danny Alexander has launched what the government calls "the most wide-ranging review of national business rates in a generation".
The review, set to report back before the 2016 Budget, will examine the structure of the current system, which is paid annually on 1.8 million properties in England.
It will examine how businesses use property, what the UK can learn from other countries and how the system could be modernised so it better reflects changes in the value of property.
"Now the time has come for a radical review of this important tax. We want to ensure the business rates system is fair, efficient and effective," the Chief Secretary to the Treasury is expected to say.
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