Scottish Government News - £2.2 billion for business
Published: 18 Mar 2020 16:26
Providing support during economic emergency
Economy Secretary Fiona Hyslop has addressed the Scottish Parliament on the economic impact of COVID-19 in Scotland. In her statement she warned that as a result of coronavirus, the Scottish economy is facing an immediate collapse in demand.
She outlined the actions being taken by the Scottish Government to support businesses including a package of measures worth £2.2 billion from 1 April:
- a full year’s 100% non-domestic rates relief for retail, hospitality and tourism
- £10,000 grants for small businesses in receipt of the Small Business Bonus Scheme or Rural Relief
- £25,000 grants for hospitality, leisure and retail properties with a rateable value between £18,000 and £51,000
- 1.6% relief for all properties, effectively freezing the poundage rate next year
- First Minister to convene an emergency meeting of the Financial Services Advisory Board
- urging local authorities to relax planning rules to allow pubs and restaurants to operate temporarily as takeaways
- extending the go live date for the deposit return scheme to July 2022
- halting the introduction of the Visitor Levy Bill
Full report here
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