Court backs rates discount for traders

DOZENS of traders on Princes Street have been given a discount on their business rates to compensate for tram works.

They will each receive 20 per cent off rates that cover the period from February 2009 up to November 2009, when the road was closed to all traffic as work was carried out.

The Lothians assessor had refused to provide the discount, only for businesses to take the case to the Lothian Valuation Appeals Committee, which granted the discount.

The assessor appealed against that decision at the Court of Session yesterday, but the court confirmed that the discount should be given. It is likely that the Scottish Government will lose at least 2 million of business rates income as a result of the verdict.

The committee was yesterday presented with evidence to back the claim that fewer shoppers were using Princes Street.

Peter Muir, director and head of Scottish rating with property adviser Colliers International, said: "It is excellent news for all rate-payers on Princes Street."