Business Comment: Inverness BID manager disappointed with lack of support in SNP budget
by Mike Smith, Inverness BID manager
In mid-November 13 national businesses wrote to Kate Forbes urging continuation of the 100 per cent business rates relief into the next financial year.
With hospitality, retail and leisure having benefited during the pandemic, they expressed concern that a return to full liability for 22/23 would be an “insurmountable” cost for many traders.
So you can imagine how concerned businesses are with the Economy Secretary’s announcement last Thursday that 100 per cent liability will restart from July 1, with an intermediate of 50 per cent in the previous three months.
We all understand Ms Forbes had to deal with many competing priorities but what message does this send to firms already suffering a triple whammy of cost inflation, labour shortages and supply chain disruption?
Personally I hoped the budget would include more direct financial support for businesses and particularly SMEs although retention of the Small Business Bonus scheme is welcomed.
Another major omission was the lack of reference to introducing an online sales tax which is recognised by all as crucial to the rebalancing of the totally unfair taxation burden between traditional bricks and mortar shops and online operators like Amazon.
Without one being implemented our city centre businesses are effectively competing with one hand tied behind their back.
