Provide tax stability, MSPs urged

The Chemical Industries Association has called on the Scottish Parliament to provide long-term tax and business rate predictions, limits to regulation and an overhaul of electricity costs. In its recently published agenda for the new legislature, the CIA calls on the Scottish Parliament to continue its dialogue with the industry. It also warns that energy […]

The Chemical Industries Association has called on the Scottish Parliament to provide long-term tax and business rate predictions, limits to regulation and an overhaul of electricity costs.

In its recently published agenda for the new legislature, the CIA calls on the Scottish Parliament to continue its dialogue with the industry.

It also warns that energy costs are higher for Scottish companies, because competition in the Scottish electricity market is limited to two vertically integrated companies. This damages the country’s competitiveness, it argues.

The Scottish chemicals industry has an output worth around £2bn per year, £1.3bn of which is exported. It has an asset base of £3bn and employs 8,500 people.

The industry’s capital spending in Scotland for this year is estimated to be £350m.