Scottish Government rates cap saves Highland businesses £1.8m

Figures released by the Scottish Government estimate that businesses across the Highlands will save almost £2 million thanks to an SNP policy to protect small businesses.   

The Scottish Government’s decision to cap increases in poundage rates to below inflation will result in lower business rates for firms across Scotland.

The move will save businesses in Scotland a total of £35.2 million - leaving 90 per cent of businesses facing a lower poundage than in England.

Kate Forbes, MSP for Skye, Lochaber and Badenoch, has said small businesses in the local area will also benefit from a host of targeted rates relief measures worth more than £750 million.

Announced by Finance Secretary Derek Mackay in his 2019/20 budget, businesses across Scotland will continue to benefit from the Small Business Bonus, ensuring that 100,000 businesses pay no rates whatsoever.

Kate Forbes MSP said: “It’s great news that businesses across the Highlands will save £1.8 million thanks to the SNP’s latest measure to protect small businesses.

“SMEs are the backbone of the Highland economy and these reliefs allow them to reinvest in their business. That will hopefully mean they can employ more people, or pay fairer salaries, or grow the business more.

“In the most recent budget, the Scottish Government delivered a package of new initiatives that invests in the Highland economy while supporting small businesses.

“In addition to business rates reliefs, the Scottish Government is also continuing to support the Highlands through the new Town Centre fund.

“Our high streets and town squares should be the centre of the community and there is almost £3 million on its way to the Highlands as part of the new Town Centre Fund.

“This policy is just one of many introduced by the SNP that ensures the Highlands remains a great best place to do business and invest.”

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