Scottish Finance Secretary Kate Forbes has announced a £320m rescue package for businesses.
The cash is being made available to support business through the Covid-19 outbreak. The action has been taken to try to limit the impact of the pandemic on Scotland's economy.
During the 2020-21 financial year, business will be boosted with:
- 75% rates relief for retail, hospitality and leisure sectors with a rateable value of less than £69,000 from 1 April 2020
- £80m fund to provide grants of at least £3,000 to small businesses in sectors facing the worst economic impact of Covid-19
- 1.6% rates relief for all properties across Scotland, effectively reversing the planned below inflation uplift in the poundage from 1 April 2020
- Fixed rates relief of up to £5,000 for all pubs with a rateable value of less than £100,000 from 1 April 2020
The finance secretary will also write to all local authorities urging them to respond positively to requests from ratepayers for payment deferrals for a fixed period.
Ms Forbes said: "Covid-19 will have challenging implications for businesses and the economy over the coming weeks and months."
"As well as following the latest health and travel advice, it's also crucial we consider the latest economic analysis and listen carefully to what the business community is telling us. We know that the tourism and hospitality sectors are facing immediate pressure, which is why we have directed support to them in particular."
She said that all ratepayers would benefit from a relief that effectively reversed the planned inflationary uplift that was due to come into effect in April.
'Immense challenges'
David Lonsdale, of the Scottish Retail Consortium, said: "Scottish ministers have acted swiftly to back businesses dealing with the immense challenges created by coronavirus.
"In dealing with this unprecedented scenario the Scottish government has listened to business and has taken steps which should improve cashflow and confidence for those impacted by the virus.
"These are the right decisions for the present, albeit both the UK and Scottish Government may have to take further steps as this very unpredictable and unprecedented situation evolves."
Andrew McRae, policy chairman of the Federation of Small Businesses Scotland, said: "Businesses across Scotland will be pleased to see this new package from the Scottish government.
"While the shape of this help is slightly different to the support being offered to businesses south of the border, it is a substantial attempt by ministers in Edinburgh to help perfectly sound businesses facing severe short-term cashflow problems.
"Time is of the essence, so this new money must be easy to access. This is no time for bureaucratic hold-ups. Further, should this initial package of measures prove insufficient, we must not hesitate in delivering a further expansion."
