The Scottish Retail Consortium has reacted with disappointment to the Holyrood government’s decision to increase business rates by 5.6 per cent next April.
Scottish finance secretary John Swinney confirmed yesterday that rates would rise in line with September’s retail price index, which was at its highest level for 20 years. The SRC warned that businesses could be hit with additional costs of up to £30m next year as a result of the decision.
“To follow England in imposing the maximum possible increase is disappointing. The Scottish government has missed an opportunity to tailor its decision for Scotland's particularly tough consumer climate,” said SRC director Ian Shearer.
Mr Shearer noted that despite a recent dip in retail sales north of the border and expectations that the rate of inflation will fall through 2012, shops are now poised to be hit with a “massive” rise in business rates. He also criticised plans to introduce a new tax for large retailers, describing them as “discriminatory”.
Earlier this week, the British Retail Consortium called on the Westminster government to boost the retail industry, warning of the threat posed by flagging consumer confidence.
