Written question WQ93263
- Asked by
- Paul DaviesConservative
- To be answered by
- Cabinet Secretary for Finance, Constitution and Cabinet Office
- Tabled
- Due
- Answered
- Time to answer
- 5 days
Question
Will the Cabinet Secretary confirm whether the Welsh Government is considering increasing the rate relief available to small businesses in Wales?
Answer
Answered by Cabinet Secretary for Finance, Constitution and Cabinet Office
There are no current proposals to amend the non-domestic rates relief available to small businesses in Wales. Our permanent Small Business Rates Relief (SBRR) is providing over £140m of relief to around 70,000 properties, with over 50,000 of these receiving 100% relief. The cost of SBRR is fully funded by the Welsh Government and is equivalent to 10% of total non-domestic rates revenue.
SBRR is part of a wider package of non-domestic rates support worth £384m in 2024-25. As a consequence, almost half of all ratepayers, including small businesses across Wales, will benefit from full rates relief. When partial relief is included, ratepayers for more than 80% of properties will benefit. That equates to 104,000 properties across Wales getting full or partial relief. To put it another way, less than 20% of properties will attract full rates.
Full details of our non-domestic rates support for 2024-25 are provided in the written statement available at the following link: https://www.gov.wales/written-statement-non-domestic-rates-support-2024-25.