Question reference: S6W-23429
- Date lodged: 30 November 2023
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Current status: Answered by Tom Arthur on 11 December 2023
Question
To ask the Scottish Government what assessment it has made of the potential economic impact of extending the 75% rates relief to hospitality and small retail businesses.
Answer
Decisions on non-domestic rates for 2024-2025 are considered in the context of the Scottish Budget in line with the Framework for Tax 2021 and with consideration given to affordability; the Scottish Draft Budget for 2024-2025 will be set out on 19 December. Forecasted costs of the Scottish Government’s non-domestic rates policies are published by the Scottish Fiscal Commission in Scotland’s Economic and Fiscal Forecasts .
Our rates relief package in 2023-2024 is estimated to be worth £749m, including the Small Business Bonus scheme which remains the most generous relief for small businesses in the UK, and ensures that around half of properties in the retail, hospitality and leisure sectors in Scotland will pay no rates.