SPF Comments on UK Budget
Responding to the UK Budget, Scottish Property Federation Director David Melhuish said:
‘Today’s UK Budget is announced against a better than expected economic picture. Extra support for programmes around Scotland is welcome and could help to unlock new development and economic opportunities.
‘While the Chancellor’s announcements on business rates will provide some respite to high streets South of the Border, the Finance Secretary has an opportunity to go further in December’s Scottish Budget. Business rates in Scotland must be put on a more sustainable level, with annual revaluations that respond to changing economic circumstances and an end to damaging and counterproductive empty property rates for commercial buildings left vacant by the pandemic.
‘Following the Chancellor’s move to use the rates system to boost the transition to net-zero, it will be important that this move is reciprocated in Scotland to help our built environment to decarbonise.’