Scots firms hit for £190m by SNP’s high-tax agenda

9 Nov 2018

Businesses in Scotland have been hit by an additional £190 million thanks to the doubling of rates by the SNP.

Latest figures have revealed medium and large firms north of the border have had to cough up the extra cash as a result of changes to the large business supplement.

In 2018/19, it is estimated the total bill for big companies will be £129,252,100, according to the parliamentary written answer by SNP ministers.

But if that rate had been kept on par with the rest of the UK, businesses would only have to pay £64,626,550.

Since 2016/17, the additional burden totals £190,776,450.

Shadow economy secretary Dean Lockhart warned the nationalists’ high-tax agenda would hurt the economy and reduce job opportunities.

And he warned that SNP plans to consider an “out of town” levy would result in a double-whammy for businesses here.

That proposal has been criticised by leading business organisations in Scotland as adding “complexity, unpredictability and cost to a wide range of businesses that are already working hard to contribute to their local communities”.

Scottish Conservative shadow economy secretary Dean Lockhart said:

“The Scottish economy continues to suffer under this SNP government.

“The SNP has now made Scotland the highest-taxed part of the UK for income tax and the highest-taxed part of the UK to run a business.

“The SNP has increasingly asked Scottish businesses to pay more and now they are considering an out-of-town levy that will add more cost and more complexity to business taxes.

“It is no wonder that our high streets are struggling and business numbers are falling dramatically across Scotland.

“The SNP must focus on improving the Scottish economy, not imposing unsustainable taxes on Scottish businesses.”