• Text size      
  • Send this article to a friend
  • Print this article

Business rates rise capped

BUSINESS rates increases will be capped at a below-inflation 2% next year, Finance Secretary John Swinney has announced.

The move, which follows a similar promise to firms by George Osborne in his Autumn Statement last week, was welcomed by business leaders.

In a separate initiative designed to protect firms' competitiveness, Mr Swinney also announced the Scottish Government's small business bonus scheme would be extended, handing an extra 4000 firms a rates discount until 2016.

Unveiling his plans at Holyrood, Mr Swinney said matching England's rates cap would maintain a competitive advantage and make the country the best place to do business.

CBI Scotland's senior policy ­executive Laura McMahon said the rate would ensure the vast majority of Scottish firms were not put at a cost disadvantage compared with those in England.

Business leaders, however, joined the Scots Tories in criticising the Scottish Government's commitment to the large retail levy, which burdens super­markets selling alcohol and tobacco.

Contextual targeting label: 
Local government

Commenting & Moderation

We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis.
If you're a relatively new user then your comments will be reviewed before publication and if we know you well and trust you then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules

Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.

199596