Sturgeon told to act NOW over tax ‘time bomb’ as Scotland teeters on brink of recession

Ms Sturgeon has previously promised to “listen very carefully to the business community”. 

Former RBS chairman Ken Barclay is heading a government review of rates but this won’t finish until next summer – months after the April revaluation. 

Scottish Chambers of Commerce chief executive Liz Cameron warned firms faced a “rates time-bomb”. 

She said: “The values that will apply are based on the economy as it was on April 1, 2015 – over a year before the EU referendum and before the worst effects of persistent low oil prices became apparent. 

“If the Scottish Government chooses to do nothing about next year’s rates bills, then businesses will be hit with valuations that bear no relevance to the economic conditions they will be facing next year. 

“The Scottish Government has the power to remedy this situation now, before the impact is felt.” 

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