- March 26, 2018
- Posted by: Lesley Griffiths AM
- Category: Latest News
Local businesses are to receive extra support to pay for their business rates as the Welsh Labour Government announces an additional £5m to extend the High Street Rates Relief scheme in 2018-19.
The scheme, which is unique to Wales, will provide additional support to around 13,000 small and medium-sized high street businesses across the country, including shops, restaurants, cafes, pubs and wine bars.
The Welsh Government-funded initiative, which was originally set up for 2017-18 only, will provide eligible businesses with a reduction of up to £750 from their non-domestic rates bills.
The original aim of the High Street Rates Relief scheme was to target businesses that were adversely affected by the Valuation Office Agency’s revaluation, which came into force in April 2017. It also supports retailers who are struggling in the face of economic conditions and competition from online and out-of-town providers.
Wrexham Assembly Member, Lesley Griffiths has welcomed the extension of the scheme and said: “Coupled with the permanent £100m Small Business Rates Relief initiative, the measures introduced by the Welsh Labour Government are providing crucial support to the small and medium businesses that are vital to our local economy.”
“Welsh Government officials have been working closely with local authorities to ensure the relief is administered effectively and eligible ratepayers will be notified about their entitlements.”