Senedd motion to restore business rates relief
The Labour Welsh Government made the decision to cut business rates relief in their 2024-25 draft budget from 75% to 40% for the retail, leisure and hospitality sectors.
In England, business rates relief will remain at 75% for the next financial year and the Welsh Government are receiving the consequential funding to continue with the relief here in Wales, but has made the political decision not to.
Wales already had the highest business rates in Britain and lost more than one pub a week last year.
In the Senedd on Wednesday (31/01/24), the Welsh Conservatives are bringing forward a Senedd motion to highlight the plight of struggling businesses in the retail, leisure and hospitality sectors that are still reeling from the pandemic and cost of living pressures and to call for the restoration of 75% business rates relief for those businesses.
Commenting ahead of the debate, Welsh Conservative Shadow Finance Minister, Peter Fox MS said:
“The hospitality sector in Wales is crying out for support, but with Labour and their cooperation partners in Plaid, those calls are falling on deaf ears.
“Wales lost more than one pub every week last year, yet the Labour Welsh Government have slashed business rates relief for the hospitality sector when Wales already had the highest rates in Britain.
“The Welsh Conservatives are taking action, because we want to see business rates relief restored to 75% to reverse Labour and Plaid’s punitive treatment of Welsh businesses.”
Welsh Conservative Shadow Local Government Minister, Sam Rowlands MS added:
“The Labour Welsh Government have the consequential funding to deliver on our call for meaningful and continued support of Welsh businesses.
“Many Welsh businesses will not survive this effective tax hike – it’s clear they need urgent support.”