It comes as businesses in the hospitality, retail and leisure sectors have been left reeling by a Scottish Budget which they say has ignored their calls for business rates support that is on par with their counterparts south of the border.
The Scottish Government insists its support model is superior to the one offered in England.
Karen Foret, owner of Wilkies and director of the British Independent Retailers Association, said: “As a business we have had to make the very difficult decision this year to close five out of our 11 stores – we have already closed three following the pandemic.”
“At the time we were seriously considering whether it was worth saving the six we kept open, but we believe our high streets and the jobs we have enhanced were worth saving,” she said.
Campaigners point to the Treasury’s two-year support for the retail, hospitality and leisure property rates relief programme.
“We have waited but this financial support has not been passed on to businesses in Scotland despite funds being provided to the Scottish Government through Barnett Consequences.”
Ms Foret said: “Scottish businesses need the same support, and as we have all waited for the support to be replicated in the Scottish Government Budget…”
Deputy business editor Scott Wright wrote that the retailer criticized the lack of support for the sector in this week’s Budget as a “punch in the face” for businesses.
It saw ministers retain the Small Business Bonus Scheme, meaning 100,000 commercial properties would not have to pay business rates, and 100% rate relief was offered for hospitality businesses in the Scottish islands, while the base interest rate on properties was maintained. At 49.8 B.
There was also a pledge to work with residents to examine the way business rates are calculated in the hospitality industry. A new income tax band of 45% was introduced for those earning between £75,000 and £125,140, and spending cuts in housing, transport and social justice were announced as a £1.5bn deficit was calculated in the public finances.
Business editor Ian McConnell says this week: “It was most satisfying to watch a major report on the UK economy published this month hit the nail on the head by highlighting ‘nostalgia, myopia and wishful thinking’ as factors holding the country back.” .
“The UK has a growth problem,” declares the final report of the Economy 2030 Survey, a collaboration between the Decision Foundation and the Center for Economic Performance at the London School of Economics and funded by the Nuffield Foundation.
A leading property group has identified a “growing appetite for luxury accommodation” in Scotland’s biggest city despite economic difficulties that will continue until 2024, Christy Dorsey reported this week.
Commercial property giant CBRE has forecast an emerging economic recovery in the second half of next year – when many believe UK interest rates will start to fall – with a more robust recovery in 2025 as lower debt burdens boost business and household spending. However, significant challenges remain, particularly for the Scottish property sector.