RBS (2)

Ken Barclay, the former chairman of Royal Bank of Scotland (RBS), will lead a Scottish government review of business rates, First Minister Nicola Sturgeon has announced.

Speaking at the Federation of Small Businesses (FSB) national conference, Ms Sturgeon also committed to the small business bonus scheme until at least 2021.

The review, led by Mr Barclay, will consider how business rates will support growth and help to make Scotland the "best place to do business anywhere in the UK".

"Firstly the intention of the review will be to make recommendations which, overall, are revenue neutral. This is not an exercise in increasing overall tax revenue, it is about ensuring taxation is fair", she said.

Ms Sturgeon said: "Secondly the small business bonus scheme will be retained until at least 2021.

"And finally, the business rates system should reflect the ambition that Scotland will be the best place to do business anywhere in the UK."

Mr Barclay, who left RBS in 2015, said: "My aim is to identify a series of recommendations that seek to enhance and reform the system to better support business growth and reflect the economic importance of rates and changing marketplaces."