SNP rates cap saves Inverclyde businesses £200,000

New figures released by the Scottish Government estimate that businesses across Inverclyde will save £200,000 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 Greenock and Inverclyde, Stuart McMillan, has said small businesses in the local area 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, the local SNP MSP said:

“It’s great news that businesses across Inverclyde will save £200,000 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 Inverclyde through the Glasgow City Region Deal, and £660,000 on its way to Inverclyde Council as part of the new Town Centre Fund, this policy is just one of many introduced by the SNP that ensures Inverclyde remains a great place to do business and invest.”

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