New figures released by the Scottish Government estimate that businesses across Renfrewshire South will save money, with East Renfrewshire set to save £0.2m and Renfrewshire set to save £1.4m, 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 Renfrewshire South, Tom Arthur, 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, SNP MSP Tom Arthur said:
“It’s great news that businesses across Renfrewshire South will save money 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 Renfrewshire South through the sums of £981,000 and £1,459,000 on their way to East Renfrewshire and Renfrewshire respectively as part of the new Town Centre Fund, this policy is just one of many introduced by the SNP that ensures East Renfrewshire remains a great best place to do businesses and invest.”