Shadow Minister for Finance says the Welsh Government should adopt Welsh Conservatives’ policy to help small businesses.
The Welsh Government has extended its high street rates relief scheme for a further year, but Welsh Conservatives have labelled it “a temporary fix” to pressures facing small and medium businesses in Wales.
One hundred percent rate relief will be available for retail properties but only up to a rateable value of £9,100. Also, it does not address the fact that the Welsh rate multiplier is the highest in the UK.
Welsh Conservative and Monmouth AM said:
“Wales continues to have the most expensive business rate regime anywhere in the UK.
“Our small and medium size enterprises are being stifled by the Welsh Government’s business rates regime and desperately need a government that supports them.
“This is especially important in light of figures published recently which indicate that some areas experienced a drop of 3.1 percent in retail footfall in November, with the worst drop in the week of Black Friday when shopper numbers fell by some 4.5 percent.
“For too long this Welsh Labour Government – which seems unable to grasp the fact that if you squeeze a business, you can squeeze it out of existence – has applied sticking plaster after sticking plaster to fix it.
“The time for temporary fixes is over. The Welsh Government must apply a permanent solution to help our small businesses, and our economy.
“The Welsh Government should adopt the Welsh Conservative policy of £15,000 for 100-percent rate relief for all businesses up to this rateable value. This is what is needed to provide the wealth and job creators of Wales with what they need.”