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SNP’s business tax to hit firms for extra £64m

22 Jan 2018

dean-choice

An extra tax levied on businesses by the SNP will cost firms £63.9 million more this year than if they paid the rate applied elsewhere in the UK.

Research by the Scottish Conservatives has revealed the large business supplement will increase to £127.8 million in 2018/19.

And because the SNP government levies the rate at 2.3 per cent, instead of the 1.3 per cent in England, firms here are now faced with additional costs.

The parliamentary question by shadow economy secretary Dean Lockhart also revealed 22,000 companies in Scotland will pay the penalty this coming year.

That includes 5128 shops, 3627 offices, 928 hotels and 665 pubs.

The rise reinforces Scotland’s reputation as the highest-taxed part of the UK, with experts concerned it will damage the economy in the long-term because major firms may choose to look elsewhere for investment.

Scottish Conservative shadow economy secretary Dean Lockhart said:

“This is more evidence of a tax the SNP levied hitting businesses north of the border for hundreds of millions of pounds.

“That’s bad for the economy, and places firms in Scotland at an unnecessary disadvantage with their closest competitors.

“How can the SNP government expect businesses to expand and create more jobs when they are punished in this way?

“The SNP is a high-tax, anti-business government.

“That approach will result in less money for public services, meaning our schools, hospitals and roads will suffer.”