SRC sends out stark warning ahead of Scottish Budget
THE Scottish Retail Consortium (SRC) has reiterated its calls for the Scottish Government to put economic growth at the heart of this year’s Scottish Budget.
Set to be announced on Tuesday 13th January, the SRC has listed out a range of support for the retail sector for the Government to act on:
• Introduce a permanent business rate discount for retailers from April which is at least as competitive as England’s discount.
• Commit to increased multi-year funding to no new taxes for the Retail Crime Taskforce.
• Make an unequivocal commitment to no new taxes or levies on retailers.
• Avoid further tax devolution to councils which might affect consumer spending or increase the costs retailers’ face.
• Outline a plan for narrowing the divergence between Scottish and UK income tax rates for higher, advanced and top rate taxpayers.
The industry body has worked across the previous six weeks, since the announcement of the UK Government’s Autumn Statement, to bring together a range of voices from across the retail space, 40 in total, who have spoken up publicly in favour of a permanent business rate discount for all retailers in Scotland.
Further to this, the SRC has been joined by five City Business Improvement Districts to call on the Scottish Government to introduce a permanent business rate discount.
David Lonsdale, director of the SRC, said: “With the Scottish Government controlling many of the key economic levers, one bad budget could see us lose our high streets as we know them and lead to despair for the retail industry and other high street businesses.
“To avoid that the Government needs to build on some of the positive decisions from recent years. Ministers have proved fleet of foot on rates before, for example delivering more regular revaluations and ditching the mooted surtax on grocery stores, as well as shelving plans for fair work conditionality on eligibility for rates reliefs.
“The retail industry has outlined clear realistic policies we hope to see delivered by the Finance Secretary. Unless business rates are reduced we could see Scottish retailers carrying a heavier business rates burden than their counterparts down south with investment-sapping consequences for the health of our high streets and the jobs and opportunities they offer.”
