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Scotland's budget plans announced

15th December 2016

Finance Secretary Derek Mackay has delivered his Draft Budget for 2017-18.

Key highlights include:-

  • A new Bill to devolve Air Passenger Duty to Scotland which will be known as Air Departure Tax
  • The basic rate of income tax will be frozen
  • Changes to Business Rates including a reduction in the business rates poundage by 3.7% and expansion of the Small Business Bonus Scheme with the eligibility threshold raised.  Supplement will be restricted to very large businesses and Chancellors’ rates relief for rural areas will be matched
  • Launch of £500m Scottish Growth Scheme supporting business investment
  • £3m package to support rail transport reductions for passengers
  • Go ahead for the Dundee Central Waterfront Growth Accelerator
  • Infrastructure investment for affordable housing
  • £140m investment to support energy efficiency programmes
  • £221m committed to support skills, training and employment
  • £120m pledged to create a new pupil equity scheme
  • Council tax rebanding with extra funds remaining with local authorities to be spent locally
  • New public sector pay policy guaranteeing the Scottish Living Wage
  • NHS budget committed at £500m

For further details contact the Business Team.

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