Labour governments have failed to manage the economy of Wales. Rather than support businesses, they have chosen to levy the highest rate of non-domestic rates in Great Britain.

On Wednesday, the Welsh Conservatives will host an opposition debate calling on the Welsh Government to take immediate action to reduce non-domestic rates to support businesses and protect jobs in Wales.

Commenting, Welsh Conservative Shadow Minister for Finance, Peter Fox MS said:

“For 25 years, successive Labour governments have failed to manage the economy of Wales. Rather than support businesses, they have chosen to levy the highest rate of non-domestic rates in Great Britain.

“To make matters worse, Labour and their nationalist coalition partners are looking to smother businesses in Wales by implementing a tourism tax to fund their vanity projects.

“The Labour Government has a duty to ensure that Welsh businesses have an environment where hard work and aspiration can be rewarded – a duty which they have comprehensively failed to uphold.

“Labour ministers need to take immediate action and reduce the burden that non-domestic rates have on businesses in Wales.”

As it stands, businesses in Wales pay the highest rate in Great Britain with all businesses in Wales paying 4.5% more than large businesses in England.

With businesses in Wales facing an unprecedented cost burden following the pandemic, with rent arrears, tax deferrals and pandemic-era loans, the Labour Government must do more to support them.

Rather than support businesses, Labour ministers are set to introduce taxes detrimental to Welsh businesses, including a tourism tax and a 300% council tax increase for self-catering businesses.

STOP LABOUR AND PLAID’S TOURISM TAX

The Labour Government and Plaid Cymru want to deliver a hammer blow to our vital tourism sector with a tourism tax for Wales. Just when the industry is building back from the pandemic, it needs our support not to be punished.