SNP Rates Cap Saves Edinburgh Businesses £4.5 Million
New figures released by the Scottish Government estimate that businesses across The City of Edinburgh will save £4.5M 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 Edinburgh Pentlands, Gordon Macdonald, has said small businesses in the Capital 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 for Edinburgh Pentlands, Gordon Macdonald, said, “It’s incredibly welcome news that businesses across Edinburgh will save £4.5 million 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 Edinburgh through the Edinburgh and South East Scotland City Region Deal, and £2,613,000 on its way to our Capital as part of the new Town Centre Fund, this policy is just one of many introduced by the SNP that ensures Edinburgh remains a great best place to do businesses and invest.”