The Scottish Government has announced a package of business supports worth £2.2 billion from 01 April.
Announcing the package, Economy Secretary Fiona Hyslop warned that as a result of coronavirus, the Scottish economy is facing "an immediate collapse in demand".
The support package includes:
• a full year's 100% non-domestic rates relief for retail, hospitality and tourism
• £10,000 grants for small businesses in receipt of the Small Business Bonus Scheme or Rural Relief
• £25,000 grants for hospitality, leisure and retail properties with a rateable value between £18,000 and £51,000
• 1.6% relief for all properties, effectively freezing the poundage rate next year
• First Minister to convene an emergency meeting of the Financial Services Advisory Board
• urging local authorities to relax planning rules to allow pubs and restaurants to operate temporarily as takeaways
• extending the go live date for the deposit return scheme to July 2022
• halting the introduction of the Visitor Levy Bill
Ms Hyslop said: "The overall economic impact is clearly likely to be significant, though the scale and duration of the impact are difficult to predict.
"Depressed economic activity this year will have implications for the public finances through lower tax receipts and higher welfare spending.
"This will have severe economic consequences and we are treating it as an economic emergency, triggered by the enormity of the health emergency.
"I welcome the further support announced by the Chancellor and the Scottish Government will pass all consequentials to businesses to help them through this challenging period.
"We have already confirmed our intention to effectively the freeze the poundage rate next year and today I can confirm that we will mirror those measures with a package of reliefs and grants worth £2.2 billion.
"That will ensure that small businesses receiving the Small Business Bonus Scheme or Rural Relief will be eligible for a £10,000 grant. We will provide 12 months relief for properties in hospitality, leisure and retail and provide a £25,000 grant for hospitality, leisure and retail properties with a rateable value between £18,000 and £51,000.
"We need to see substantial grant support and tax breaks to keep companies in business and people in jobs where possible, and a greater emphasis on supporting individuals and households.
"I will continue to work closely with the UK Government and the other devolved administrations as this situation will require a coordinated UK response."
(MH/JG)
Time and date
CONSTRUCTION DIRECTORY
Latest Construction News
26/11/2024
Scottish Water has unveiled its largest-ever procurement initiative, aiming to modernise the nation's water and wastewater infrastructure while safeguarding the environment. The program, named Delivery Vehicle 4, is valued between £5 billion and £9 billion and is set to run from 2027 to 2033, with ...
26/11/2024
The City of Edinburgh Council has granted planning permission, subject to conditions, for the refurbishment of Calton Square, an office building currently occupied by Baillie Gifford until the end of December 2025. Promoted by Ardstone Capital on behalf of Manova Partners, the project aims to ...
26/11/2024
First Minister John Swinney, MSP for Perthshire North, praised the progress being made on the construction of the new Perth High School during a visit on Friday, 22 November. He was joined by Jim Fairlie, MSP for Perthshire South and Kinross-shire, alongside senior Perth and Kinross Councillors, ...
26/11/2024
A state-of-the-art playpark has officially opened at King George V Park in Bearsden, following the completion of a £100,000 refurbishment. Funded by a combination of East Dunbartonshire Council (EDC) Capital Funding and the Scottish Government’s Renewing Scotland’s Play Parks initiative, the ...
26/11/2024
Fife Council has launched a public consultation, inviting residents, businesses, and organizations to contribute ideas and propose sites for inclusion in the next Local Development Plan, known as Fife's Place Plan. The council is calling on community councils, landowners, and developers to share ...
26/11/2024
The Chief Executive of East Lothian Council has announced she is to retire in February 2025. Monica Patterson who has been Chief Executive for almost five years, has spent most of her professional career working in local government. Prior to joining East Lothian Council in 2010, she was Head of ...
25/11/2024
West of Scotland Housing Association (WSHA) and Connect Modular have jointly submitted a planning application to Glasgow City Council for the development of 33 affordable homes in Cowlairs. This project aligns with the wider Cowlairs Park regeneration scheme and the city's ambitious housing ...
25/11/2024
Arc-Tech (Scotland) has successfully completed a £6m Mechanical and Electrical (M&E) services package for the Lost Shore Surf Resort in Edinburgh. The state-of-the-art resort, which opened its doors earlier this month, features a range of amenities, including a wave pool, luxury lodges, and ...
25/11/2024
Scottish Water has successfully completed the construction of a groundbreaking hydro energy generation scheme at Whiteadder Reservoir in East Lothian. This innovative project, believed to be the first of its kind in Europe, will harness the power of water to offset a significant portion of the ...
25/11/2024
Work is set to commence on a £6.5 million project to upgrade the Double Dykes Gypsy/Traveller site near Perth. The initiative aims to replace outdated chalets with modern, energy-efficient accommodation and implement significant site improvements. Perth & Kinross Council secured £3.9 million from ...