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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