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As Bryan Buchan of Scottish Engineering put it, “The imposition of an additional levy on business rates is a burden which an already-struggling manufacturing and engineering sector can ill-afford.”
Unlike political leaders, I do not need to be circumspect or ca’ canny with my words. As he levies tariffs here, there and everywhere, he disrupts the world’s economy to boot.
It does not help when Labour burdens the oil and gas sector with further increases to the already high energy (oil and gas) profits levy, killing investment stone dead and risking thousands of jobs.
Its tax on jobs is an act of economic stupidity, introduced despite the Office for Budget Responsibility warning the chancellor that raising the levy would impact on wages and investment.
They might have the same combined earnings but see very different results from the changes, due to the fact that income tax is levied on a personal basis whereas council tax is levied on a household basis.
BIDs can operate for a maximum of 5 years before re-ballot. BIDs are funded through a levy on local businesses. The levy is collected by the local authority for the area as a supplement to non-domestic rates and passed to the body running the BID.
Peterhead, SSE and Shell are well on track to bid into that levy control framework. We also have the white rose CCS project, which the National Grid and Drax power station are well on track with.
The broad-brush approach of a supermarket levy would involve a levy of a fraction of 1 per cent, whereas the targeted policy to change behaviour will have a greater impact on consumption, as that is the essence of the policy.
We are looking at mechanisms, and we are liaising with the Department for Environment, Food and Rural Affairs on UK approaches, including levies, so we are looking actively across the board at how we might work through that.