As we finalise our submission for the Welsh Government’s review of business rates we are pleased to see action being announced to support businesses being hit hard by this outdated and unfair tax right now.
We await the finer detail and hope that the measures will provide adequate support to the retail, hospitality, & leisure businesses in our urban centres. These businesses carry a disproportionate taxation burden that is bad news for business and bad news for our high streets.
Any tax model which offers relief to the majority of payers is broken at its core and we are hopeful that the current Welsh Government review will pave the way for substantial changes that rebalance local business tax in Wales and supports the vibrant urban centres that Wales deserves.
Fundamental reform of business rates was a key point in our 2021 Recovery Manifesto for Cities & High Streets. We look forward to continue to work with Welsh Government and other partners to see this & the other points of our manifesto come to life.