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Edinburgh firms hit for an additional £7,653,000 a year by SNP’s high-tax agenda

Businesses in Edinburgh have been hit by an additional £7,653,000 thanks to the doubling of the large business rate supplement 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 £16,349,200, 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 £8,174,600.

 

Since 2016/17, Edinburgh firms are paying millions of more than south of the border with the additional large business rate supplement.

 

Miles Briggs MSP has warned that the nationalists’ high-tax agenda would hurt the economy and reduce job opportunities.

 

Miles Briggs, Scottish Conservative Lothian MSP, said:

 

“Higher business tax rates in Scotland put firms in Edinburgh at a disadvantage to those in England and the rest of the UK.

 

“This makes running a business significantly harder and many are having to close their doors.

 

“Businesses closing is bad for the economy, bad for employment levels and can even reduce taxes that the Scottish Government receive in the long term.

 

“SNP Ministers are making it more difficult for businesses to flourish and ultimately harming the Scottish economy.”

 

ENDs…

Miles Briggs