Scotland to receive fresh £360 million budget cash boost
Scotland is expected to receive a fresh £360 million cash injection as a result of measures set out in the budget yesterday.
The money will go to the Scottish Government in light of fresh measures which Chancellor Rishi Sunack unveiled for businesses in England to provide emergency relief to cope with the impact of the Coronavirus, sources have confirmed.
The money is on top of £640 million in extra “Barnett consequentials” which has already been allocated to Scotland.
Scotland is entitled to a proportionate share of funding which was unveiled by Mr Sunak in the form of a £500 million business hardship fund and £3,000 grants for smaller firms in England, as well as a one-year business rates holiday for smaller companies in the hospitality, retail and leisure sectors south of the border.
Scots business leaders have already called on Finance Secretary Kate Forbes to match the additional support for business which has been made available in England.