Government offers lifeline for small businesses

Date: 17th October 2008

Thousands of small firms could soon benefit from full business rate relief, a government minister recently announced.

The Scottish government's finance secretary, John Swinney, pledged that the country's small to medium business sector would get the financial aid it requires to survive the credit crunch.

The move had previously been indicated in the Scottish National Party's budget proposals, but it was not confirmed until the announcement at a recent conference in Perth.

Mr Swinney stated: "From April next year, small businesses will get a … boost with 100 per cent rate relief available to tens of thousands of our smallest businesses."

He added that the Scottish government would also be investing more that £14 billion into infrastructure over the next three years.

The Scottish first minister, Alex Salmond, recently called for £1 billion from the British government, which he claims the country needs to regenerate the economy.