Scottish Government announces new support for businesses

Tories hail U-turn

Kate Forbes announced new support for business

FINANCE Secretary Kate Forbes has announced further support for businesses in Scotland, including an extension of grants to help small companies with multiple premises.

Initially the Scottish Government restricted payments to one for each business although south of the border firms could receive one per property.

But Ms Forbes has made available an extra £120 million so that in addition to 100 per cent grants on their first property, companies with more than one property will now be able to claim 75 per cent of the grant for each subsequent premises.

She also announced a further £100 million fund to protect self-employed people and viable micro and small businesses struggling due to Covid-19. The money will be targeted at newly self-employed people and businesses who do not qualify for help under existing schemes.

Ms Forbes said: “Our support for business now exceeds the £2.2 billion passed on from the UK Government and actively works to fill the gaps in the UK schemes.”

Tories hailed the move as a U-turn. Scottish Conservative leader Jackson Carlaw said: “The SNP government spent weeks defending its approach in the face of severe criticism from Scotland’s business community.

“These changes should have been made sooner

“We’ve always argued that if the SNP takes a divergent approach from the rest of the UK, it has to show why this is of benefit for Scotland.”

Scottish Labour leader Richard Leonard also welcomed the change. He said: “This announcement will come as some relief to many businesses in Scotland that faced the real prospect of financial ruin due to the Scottish Government’s previous insistence in offering grants for only one premises.”