Retailers unite to oppose "supermarket tax"
A planned tax hike for Scotland’s largest retailers, which could increase rates for some stores by between 20 and 50%, has prompted business to unite behing the Competitive Scotland campaign group.
The Scottish Parliament announced the hike, which will take effect on April 1, in the November budget for shops with a rateable income of £750k and higher.
But King said this prospect was forcing him to reconsider plans to occupy an additional 180,000sq/ft of space over the next two years.
A Sainsbury’s spokesman said: “This is an extraordinary tax which will penalise one of the few sectors that continues to grow and create jobs during the downturn. It represents a significant and unbudgeted financial burden."
Sainsbury’s has overtaken Asda to become the second biggest supermarket in the UK following a period of rising sales over Christmas.
The Scottish Retail Consortium has asked MSPs to oppose the measure.