- August 6, 2017
- Posted by: Llandaff North Labour
- Category: Latest News
Small business owners and ratepayers are being asked for their views on a new permanent Welsh Government Small Business Rates Relief Scheme to be introduced in 2018. In 2017-18, the Welsh Government is providing more than £110 million of rates relief for small businesses. The new permanent scheme will maintain this level of investment. A consultation opens today looking at whether the scheme could provide more support to the small businesses that need it the most.
This could involve redirecting relief from certain businesses, such as national chains which occupy multiple small premises across Wales, to support businesses which are more likely to benefit. Funding would then be reinvested in making the scheme more generous for small businesses like local shops, cafes and restaurants which might only operate from one or two premises. In considering how the scheme could be made more generous, the consultation also looks at whether the different thresholds for relief could be increased, how much this would cost and whether, as a result, more businesses would benefit.