LOCAL MSP WELCOMES CUT IN BUSINESS RATES FOR HAWICK (Jim Hume)

LOCAL MSP WELCOMES CUT IN BUSINESS RATES FOR HAWICK

January 25, 2008 12:00 AM

Contact Jim Hume 0131 348 6703/07825 522771

Jim Hume, MSP for the South of Scotland, and Councillors in the Borders, have today welcomed the news that business rates in the Borders will be cut after the 1st April 2008.

Jim Hume said:-

"There have been a number of shop closures recently in Hawick which is bitterly disappointing for the town.

"It's fair to say that business rates are probably one of the main costs to a small shop and the Small Business Rates Relief Scheme has of course helped over the years.

"Councillor Vicky Davidson, who's also the Executive Member for Economic Development, has this week discovered that the level of relief is set to increase so that by 2010/11 shops with a rateable value of up to £8000 will have 100% relief; a rateable value of between £8001 and £10000 will attract a 50% relief; and a rateable value of between £10001 and £15000 will attract a 25% rates relief.

The MSP continued:-

"I sincerely hope that this will not only help existing businesses, but also the wider Borders' economy."

Hawick & Hermitage Councillor Ron Smith said:-

"This is great news. It will particularly favour the smaller local shops which are the mainstay of any High Street.

"I hope this will also bring greater confidence to those who are considering opening a business. The High Street is a measure of the health of any town.

"Hawick has seen a succession of shops closing in recent months, but this Small Business Bonus Scheme taken along with the Heart of Hawick developments and the One Way Street trial could help regenerate the whole town."