Commenting on the news that CPI inflation has fallen to 2.2% and RPI inflation has fallen to 2.6%, Liz Cameron, Chief Executive of Scottish Chambers of Commerce, said:
'Whilst it is good news that the headline rate of inflation is falling back towards the target of 2%, the important news for Scottish businesses is that the RPI rate of inflation has come down to 2.6%. This is the figure that the UK Government traditionally uses to calculate the annual inflationary increase in business rates, with the Scottish Government following suit.
'We believe that it is time the Scottish Government broke free from its self imposed shackles to the UK Government and took a bold step in protecting Scottish businesses from yet another inflationary rise.
'This year Scottish businesses have had to pay 5.6% extra in rates, based upon the unfortunate coincidence that RPI inflation in September 2011 hit a 20 year high price spike. This year, the Scottish Government have the opportunity to make up for this and deliver a much needed break to hard pressed businesses the length and breadth of the country by freezing business rates for 2013/14.
'Such a move would help to minimise costs at a crucial period for our economy and send a clear message to business that the Government understands their needs and is on their side.'
