£100m fund plea to help save our struggling high streets

A £100MILLION fund must be introduced to boost Scotland’s town centres, according to business leaders.

The Federation of Small Businesses (FSB) said more investment is needed to help fill the rising number of empty shops.

It said that the fund could be paid for using the extra £950million the Scottish Government is receiving next year as a result of Philip Hammond’s Budget.

In a letter to Finance Secretary Derek Mackay ahead of next month’s Scottish Budget, the FSB also raised concerns about the growing tax gap between Scotland and England.

It also called for a £75million fund to help companies deal with the impact of Brexit.

The Scottish Daily Mail has been campaigning for action to ‘Save Our High Streets’, including a fairer business rates deal compared to online firms.

In his letter to Mr Mackay, Andrew McRae, chairman of the Scotland policy unit at the FSB, said: ‘We contend that ministers should establish a new town centre diversification fund. This would facilitate the adaptation of empty high street retail units for non-retail operators.’

A Scottish Government spokesman said: ‘We provide the most competitive rates relief package in the UK, worth around £720million.

‘We support town centres through Scotland’s Towns Partnership, providing information, support and services.’