FINANCE Secretary Derek Mackay said he was listening to the increasing number of voices telling him how damaging the proposed business rates increases would be to the Scottish economy and yesterday, at last, came the response.

Announcing a package of measures aimed at easing the controversial revaluation – the first since 2010 - on a number of key sectors, Mr Mackay told MSPs he accepted some of the rises were “out of kilter”.

The Herald has been a prominent voice calling for action, having revealed the worrying anomalies thrown up by the revaluation, as well as the potentially catastrophic consequences for individual firms facing higher – at times ridiculously higher – bills.

With this in mind, rate rises for the hospitality industry will now capped at 12.5 per cent. Many businesses in the sector had warned intervention was vital to avoid closures and job losses, especially as Scotland’s economy remains more fragile than other parts of the UK.

Office premises in Aberdeen and Aberdeenshire will benefit from the same cap, reflecting the downturn that has hit the oil and gas industry since 2015, when this revaluation of rateable values was carried out.

The renewables sector had also lobbied for assistance and that came in the form of rolling forward current rates relief of up to 100 per cent for qualifying community projects, capping bill increases at 12.5 per cent for small-scale hydro schemes and new 50 per cent relief for district heating schemes.

It should also be pointed out that the revaluation had actually benefited many, particularly small businesses, with seven out of 10 either paying the same as before or less.

Mr Mackay should, then, be given credit for this package, especially as it helps many of those who would have been hardest hit. It’s clear, however, that he had little choice but to respond, especially since the Scottish Government had been warned consistently of the likely damage to some regions and sectors if the increases went ahead unchecked.

And a number of business experts and bodies argue the assistance does not go far enough; not only have some sectors been left out, but there was no sign of the transitional arrangements being offered to businesses in England and Wales that face big hikes.

It’s fair to say the SNP has not covered itself in glory on this particular issue.

It should also be remembered that the solution offered yesterday is only a temporary one; and criticisms that the current system is not fit for purpose are unlikely to go away.

The Barclay Commission is, of course, reviewing the entire regime at this very moment and will report back in the summer. We must hope that it puts forward meaningful and sustainable solutions to the problems highlighted by this painful revaluation process, and that it has the foresight to recommend a new and robus system that is flexible enough to respond to changes in the economy.

Business must pay its share of tax - that is both a financial and moral imperative. But the system needs to be a fair one that nurtures rather than stifles the economy at a time when growth is so badly needed.