SCOTTISH GOVERNMENT RATES CAP SAVES FIFE BUSINESSES £1.9M
Published date : 12 Mar 2019
New figures released by the Scottish Government estimate that businesses across Foife will save £1.9m thanks to a Scottish Government 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% of businesses facing a lower poundage than in England.
MSP for Mid Fife & Glenrothes Jenny Gilruth MSP 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 MSP 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.
Commenting, Jenny Gilruth MSP said:
“It’s great news that businesses across Fife will save £1.9m thanks to the Scottish Government’s latest measure to protect small businesses.
“In the face of Westminster chaos, this SNP Government has delivered a package of new initiatives that deliver for Scotland’s economy while safeguarding the future for small businesses.
“With the Scottish Government continuing to support Mid Fife & Glenrothes through the Edinburgh City Region Deal and £4,335,000 on its way to Fife as part of the new Town Centre Fund, this policy is just one of many introduced by the Scottish Government ensures Fife remains a great best place to do businesses and invest.”
ENDS
Notes:
SAVINGS IN POUNDAGE RATES
Local authority
£m
Aberdeen City
3.1
Aberdeenshire
1.5
Angus
0.3
Argyll & Bute
0.4
Clackmannanshire
0.2
Dumfries & Galloway
0.6
Dundee City
0.7
East Ayrshire
0.4
East Dunbartonshire
0.3
East Lothian
0.3
East Renfrewshire
0.2
Edinburgh, City of
4.5
Eilean Siar
0.1
Falkirk
0.9
Fife
1.9
Glasgow City
4.4
Highland
1.8
Inverclyde
0.2
Midlothian
0.4
Moray
0.5
North Ayrshire
0.5
North Lanarkshire
1.3
Orkney Islands
0.1
Perth & Kinross
0.7
Renfrewshire
1.4
Scottish Borders
0.5
Shetland Islands
0.3
South Ayrshire
0.5
South Lanarkshire
4.2
Stirling
0.6
West Dunbartonshire
1.1
West Lothian
1.1
Scotland
35.2
Source: Local Authority Mid-Year Estimate Income Returns.
MONEY FROM TOWN CENTRE FUND
Local Authority
Allocation
Aberdeen City
£ 1,351,000
Aberdeenshire
£ 3,286,000
Angus
£ 1,080,000
Argyll and Bute
£ 1,242,000
City of Edinburgh
£ 2,613,000
Clackmannanshire
£ 683,000
Dumfries and Galloway
£ 1,529,000
Dundee City
£ 735,000
East Ayrshire
£ 1,701,000
East Dunbartonshire
£ 944,000
East Lothian
£ 1,275,000
East Renfrewshire
£ 981,000
Falkirk
£ 1,976,000
Fife
£ 4,335,000
Glasgow City
£ 3,010,000
Highland
£ 2,965,000
Inverclyde
£ 660,000
Midlothian
£ 910,000
Moray
£ 1,233,000
Na h-Eileanan Siar
£ 223,000
North Ayrshire
£ 1,418,000
North Lanarkshire
£ 3,250,000
Orkney Islands
£ 200,000
Perth and Kinross
£ 1,983,000
Renfrewshire
£ 1,459,000
Scottish Borders
£ 1,421,000
Shetland Islands
£ 205,000
South Ayrshire
£ 1,064,000
South Lanarkshire
£ 2,506,000
Stirling
£ 1,077,000
West Dunbartonshire
£ 859,000
West Lothian
£ 1,826,000
Scotland
£ 50,000,000
NK
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