Magazine article Public Finance

CBI Welcomes Plan to Spread Cost of Rates

Magazine article Public Finance

CBI Welcomes Plan to Spread Cost of Rates

Article excerpt

Scots business leaders have supported a decision by Finance Secretary John Swinney to spread the cost of a 5% increase in rates bills over three years.

When the same policy was announced for England last week by Chancellor Alistair Darling, CBI Scotland wrote to Swinney demanding that a similar concession be made for businesses in Scotland.

Swinney said on April 6 that, following an agreement with local government businesses in Scotland would be able to spread the rates increase cost in a way that would help companies' cash flow and provide a much-needed boost for the Scottish economy.

He said that the measures were designed to limit the impact of the increase and would ensure that Scottish businesses continued to benefit 'from more generous rates relief than its counterparts in England'. …

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