Borders’ firms hit by SNP’s high tax agenda

Businesses in Scotland have been hit by an additional £190 million thanks to the doubling of rates by the SNP.

Latest figures have revealed that medium and large firms in the Borders have had to cough up the extra cash because of changes to the large business supplement.

In 2015/16, £619,400 was raised in the Borders from the large business supplement, however it is projected that for 2018/19, this is to more than double to £1,399,300.

Across Scotland as a whole, it is estimated the total bill for big companies will be £129,252,100 for this financial year.  Had the rate had been kept on par with the rest of the UK; businesses would only have to pay £64,626,550.

Since 2016/17, the Scotland-wide additional burden totals £190,776,450.

 

Ettrick, Roxburgh and Berwickshire MSP, Rachael Hamilton said:

“It is unacceptable that Borders businesses, who provide secure jobs for many of my constituents, are being hit with more red tape and taxes.

“The SNP’s stewardship of the economy in Scotland is abysmal, and they have now made Scotland the highest-taxed part of the UK for income tax and the highest-taxed part of the UK to run a business.

“The SNP has increasingly pursued an anti-business agenda, and we know that jobs are often the first thing to go when a business is struggling.

“It is no wonder that our high streets are struggling and business numbers are falling dramatically across Scotland.

“The SNP must focus on improving the Scottish economy, not punishing businesses which are at the heart of our communities”.