The SNP is set to raid businesses for hundreds of millions extra in tax, the finance secretary has admitted.
In a note to Holyrood’s Finance Committee, Kate Forbes confirmed non-domestic rates income would rise from £2.75 billion this coming year, to £3.42 billion by 2023/24.
That’s an increase of almost 25 per cent, and would put hardworking businesses of all sizes and sectors under immense pressure.
The £670 million rise would occur as a result of business rates revaluations, the Scottish Government indicated in the document.
Shadow finance secretary Donald Cameron said the move was the latest indication that the SNP ran an anti-business government.
Scottish Conservative shadow finance secretary Donald Cameron said:
“Clearly the SNP government thinks it can balance its own books on the backs of hardworking businesses.
“Firms big, medium and small are already paying through the nose when it comes to various taxes and rates.
“This document shows the nationalists want to shake them down for even more cash.
“It’s no wonder the business community feels neglected by the SNP government.
“Since coming to power in 2007, the SNP has made it perfectly clear it is an anti-business government.
“This raid will only drive away growth and help Scotland’s closest competitors.”
Notes to editors:
The admission can be found on p7 of the below document:
It shows the following projections for non-domestic rates income:
2020/21 - £2.749 billion
2021/22 - £3.012 billion
2022/23 - £3.345 billion
2023/24 - £3.423 billion