Commentary from Brian Rogan, head of Rating at CBRE Scotland, following the business rates announcement in the Budget:
“The Chancellor’s rating announcement in today’s Budget does not extend to Scotland however CBRE strongly urges the Scottish Government to follow the Chancellor’s budget statement. In Scotland we need a clear commitment to more frequent (e.g. three yearly) rating revaluations, an increase in the threshold for the ‘large’ property supplement and a change to the basis of the annual rate increase from RPI (Retail Price Index) to CPI (Consumer Price Index).
“High rate liabilities are dragging on Scottish business performance and profitability and if Scotland is to remain a competitive business location the Scottish Government, irrespective of the forthcoming election result, must match, or indeed better, the Chancellor’s proposals to rein in rate liabilities.”