SNP RATES CAP SAVES EAST LOTHIAN BUSINESSES £0.3M AND MIDLOTHIAN BUSINESSES £0.4M
New figures released by the Scottish Government estimate that businesses across East Lothian will save £0.3M and Midlothian will save £0.4 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% of businesses facing a lower poundage than in England.
MSP for Midlothian North and Musselburgh, Colin Beattie, 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 SNP 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.
Commenting, SNP MSP Colin Beattie said:
“It’s great news that businesses across East Lothian will save £.03M and Midlothian will save £0.4 thanks to the SNP’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 East Lothian and Midlothian through the Edinburgh City Region Deal, and £1.275M on its way to East Lothian and £910,000 on its way to Midlothian as part of the new Town Centre Fund, this policy is just one of many introduced by the SNP that ensures East Lothian and Midlothian remains a great best place to do businesses and invest.”
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