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News Release

Edinburgh

Budget 2015 - Comment from Alasdair Humphery, Lead Director for JLL Scotland


Edinburgh, 18 March 2015

Oil & Gas

Commenting on the Chancellor's announcements about the oil and gas industry, Alasdair Humphery, Lead Director for JLL in Scotland: said:

"At a time when Aberdeen's oil and gas industry has been under significant pressure from falling oil prices, these tax cuts will provide a much welcomed shot in the arm. The knock-on effects of a successful oil and gas industry for the economy are not to be underestimated. A reduction in the tax burden should help to safeguard jobs, encourage further investment, and maintain Aberdeen's position as a leading destination for corporate occupiers. Given the value of oil and gas to tax revenues, a competitive North Sea market can only be good news for both Scotland and the UK."

Business Rates

Commenting on the Chancellor's announcements about business rates, Alasdair Humphery, Lead Director for JLL in Scotland, said:

"The commitment by Westminster to review business rates in England according to the terms of reference published earlier this week once again throws a spotlight on current rates in Scotland, which are set to rise again in April. Although the Government has committed to making any such review fiscally neutral, there is a real danger here that we end up with a radically divergent two tier system - one which unfairly penalises Scottish businesses based on the current system of rates which, in our view, has become increasingly outmoded. Given the debate surrounding the future of our high streets across Britain, we would now urge the Scottish Government to carry out an urgent review of business rates north of the border."