New rates reforms to boost businesses
Many small companies will pay nothing at all
16.09.2017 Nurseries, small businesses and the hospitality sector across Renfrewshire will benefit from reforms to Scotland’s business rates, say politicians.
The Scottish Government announced it will introduce a new Business Growth Accelerator that will help reduce bills for companies.
The move comes on the back of the Barclay Review, which aimed to find ways of boosting business in Scotland.
Finance Secretary Derek Mackay says that new rules will mean all improved premises will be freed from increases in their bills for the first 12 months – and all new premises will not have to pay rates until they are occupied, or for the first year afterwards.
The MSP for Renfrewshire North and West also announced that new day nurseries will receive 100 per cent relief from rates.
He said: “The Barclay Review presented us with the opportunity to evaluate how we handle business rates and improve methods to make Scotland the most competitive place in the UK for businesses to invest and grow.
“I committed to respond quickly and, three weeks after receiving the report, I am delighted today to put our response into action.
“These new measures will help stimulate the economy and create jobs, which is key to readdressing the inequality that still exists in our society.”
Councillor Kenny MacLaren welcomed the announcement, saying it will boost jobs and bring new life into Paisley town centre.
The elected member for Paisley Northwest said: “Setting the new day nursery relief at 100 per cent will help to deliver the expansion of nursery provision across Renfrewshire and Scotland.
“The Business Growth Accelerator is very welcome news, not just for new businesses but also for our town centres.
“This will see properties that have lain empty for six months will now get 100 per cent relief from business rates once a new business occupies these premises.
“New- build properties will be free from rates until they are occupied and then the new tenants will get a year free of business rates.
“These moves will help to bring empty properties in town centres back into productive use.”
Stimulating economy Derek Mackay
Welcome news Kenny MacLaren