Written question WQ86154
- Asked by
- Janet Finch-SaundersConservative
- To be answered by
- Minister for Finance and Local Government
- Tabled
- Due
- Answered
- Time to answer
- 7 days
Question
Will the Minister consider introducing a business rate holiday for all businesses that can prove that they are struggling to make ends meet due to recent increases in running costs?
Answer
Answered by Minister for Finance and Local Government
The Welsh Government is already providing £116m of targeted non‑domestic rates support to businesses in the retail, leisure and hospitality sectors for the duration of 2022-23. This is in addition to our existing £240m package of permanent rates reliefs which provide ongoing support for businesses across Wales. As a consequence of our relief schemes, over 85,000 properties in Wales receive support with their bills and more than half of the non-domestic rates tax-base is benefitting from full relief in 2022‑23. These reliefs are fully funded by the Welsh Government.
In 2021-22 and 2022-23, the Welsh Government also took the decision to freeze the non-domestic rates multiplier. This prevented increases in rates bills for ratepayers with a residual liability, after the application of any reliefs, and has provided continued support to all businesses during these challenging times.
We have a duty to ensure stability in the funding of public services, services from which we all benefit, where the pressures of heightened inflation are also being felt. All the non-domestic rates revenue raised in Wales is provided to local government to support the delivery of vital local services.