Scottish Seafood Processors Say Tax Changes are Threat to Business Growth and Stability
November 21, 2024 | 1 min to read
The UK Government's recent increase in National Insurance contributions and adjustments to inheritance tax have sparked serious concerns in the Scottish seafood processing sector. In a joint statement, the Scottish Seafood Association and the Scottish Pelagic Processors’ Association warn that these changes could undermine economic growth efforts and adversely affect businesses still recovering from the COVID-19 pandemic and rising energy costs.
The recent announcement by the UK Government regarding increases in National Insurance contributions, coupled with changes to the inheritance tax, has raised serious concerns within the Scottish seafood processing sector.
In a joint statement, the Scottish Seafood Association and the Scottish Pelagic Processors’ Association say these budget changes threaten to undermine the government’s rhetoric about fostering economic growth across business communities and may have unintended consequences for businesses who are struggling to recover from the impact of the COVID-19 pandemic and recent high energy costs.
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