Written question WQ84221
- Asked by
- Luke FletcherPlaid
- To be answered by
- Minister for Finance and Local Government
- Tabled
- Due
- Answered
- Time to answer
- 3 days
Question
Will the Welsh Government be retaining the full 100 per cent business rates relief holiday which was in place in the last budgetary period?
Answer
Answered by Minister for Finance and Local Government
On 20 December, I announced as part of the Draft Budget package that retail, leisure and hospitality ratepayers in Wales will receive 50% non-domestic rates relief for the duration of 2022-23. Like the scheme announced by the UK Government, the Welsh Government’s Retail, Leisure and Hospitality Rates Relief scheme will be capped at £110,000 per business across Wales. Our approach means that businesses in Wales will receive comparable support to that provided in other parts of the UK.
To ensure businesses in Wales are sufficiently supported, and reflecting the nature of our tax-base, we have invested an additional £20m on top of the consequential funding received from the UK Government. In total, we will be investing £116m in the scheme for 2022-23. This is in addition to our permanent relief schemes that provide over £240m of relief every year.