Businesses warn against tax rises in Scotland

Finance Secretary Derek Mackay. Picture: Lisa Ferguson
Finance Secretary Derek Mackay. Picture: Lisa Ferguson
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CBI Scotland has warned Finance Secretary Derek Mackay against putting up income tax or creating a business rates regime that is even more expensive than south of the Border.

CBI Scotland has said Scotland’s competitiveness could be put at risk by creating divergence with the rest of the UK on income tax and business rates.

The warning came as four leading business groups said Mr Mackay must revamp business rates otherwise Scottish firms will lose out.

READ MORE: David Mundell: Budget promises are a huge boost for Scotland’s economy

Scottish Engineering, the Scottish Property Federation, the Scottish Retail Consortium and the Scottish Tourism Alliance have made the call after Philip Hammond said rate increases would be based on Consumer Price Index rather than the higher Retail Price Index measure of inflation.