Budget Review Brings Tax Cuts for Business

Strathaven based, Minister for Europe, External Affairs and Culture, Linda Fabiani MSP, welcomed the Scottish Governments budget spending review which has opened the way for a 50 percent cut in business rates in South Lanarkshire.

The 50percent cut in business rates for small businesses will begin next year and the following year will see a further 50percent reduction with all businesses rated under £8000 paying no rates from 2010.

Welcoming this boost for local businesses, Linda Fabiani said:

“As part of our wider economic strategy the SNP is determined to support the small business sector which had been let down under the Labour and Lib Dem administration.

“Small businesses drive the local economy. They are a source of entrepreneurship and innovation and create a huge number of jobs as 98percent of all businesses are classified as small in Scotland

“The SNP Government’s plans for cutting business rates are designed to target small businesses and deliver meaningful help to them while at the same time benefiting the wider economy.

“With the large business sector in East Kilbride this is sure to be welcome news for many businesses.