Firms given business rates boost

Apr 5 2009

Firms hit with a hike in business rates bills will be able to spread the extra cost over three years, ministers will announce this week.

The move by Finance Secretary John Swinney follows a similar concession for firms in England announced last week by the Chancellor, Alistair Darling.

Business rates went up by 5% last week in line with inflation, as defined by the previous September's increase in the retail prices index.