The Scottish Chambers of Commerce (SCC) will be meeting with business leaders to discuss this year’s adoptions of a scheme to phase in higher business rates. They have expressed that their situation is unfair when compared to that of their British counterparts. British businesses have their rate bill increase phased in over several years. Scottish businesses claim they have been put at a disadvantage and many can’t handle the change. The rise in busines rates my see more Scottish people looking to raise capital by remortgaging or other means.

Business rates are set every five years. The commercial properties pay to contribute to local services. Some small businesses under the "small business bonus" scheme will pay no rates at all. Large companies, however, are burdened much more. Liz Cameron, Chief Executive of the SCC said: "Forty per cent of Scottish businesses are worse off as a result of this year’s business rates revaluation." "To make matters worse", she stressed, "many of these businesses have been exposed to massive rate rises – in one case of 414 per cent – a result of the Scottish government’s decision to abandon transitional relief." In England there is a cap on a rate rise of no more than 12.5 per cent extra per year.

With Scottish businesses striving to survive in a deep recession, these rate rises could be detrimental. Meanwhile, Finance Secretary John Swinney’s office said their analysis has suggested that 60 per cent of firms had seen rates remain or fall. The SCC hopes to meet with the Finance Secretary on the behalf of the business community to discuss the situation and push for a fair rate rise for the other 40 per cent of the businesses that are being hurt by the scheme. They are hoping for a transitional rise as well as a maximum increase per year.