Scottish business to get competitive tax advantage

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Scottish first minister Jack McConnell has pledged to lower Scotland's business rates in line with England, and consider making a specific reduction in business rates for companies which are R&D intensive.

The move to reduce business rate poundage to England's levels, combined with the lower valuations in Scotland, will effectively mean that Scottish companies will pay lower business rates than those south of the border, giving Scotland a competitive tax advantage. This is clearly the intention.

"It is time to secure greater competitive advantage for Scotland... For too long our Scottish economic growth has lagged the rest of the UK," said McConnell, announcing his rate-cutting plans to the Scottish Parliament. "Our policy of limiting rate increases to inflation or below, has meant that, com...

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08th Sep 2005 11:23

Tartan Tax
It would have been braver and of more benefit to the Scottish economy to reduce the rate of income tax by 3%.

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