Assembly Member for Aberconwy, Janet Finch-Saunders, has called on the Welsh Government to increase support for small businesses, in line with England, in the wake of the Valuation Office Agency’s recent revaluation of businesses, which has seen some businesses facing rates increases of over 160%.
Conwy has seen the highest total percentage increase change in rateable values from the 2010 figures to the recent 2017 valuation, with the industry sector being hardest hit with an average increase of 15.8% across the county.
Janet said:
“The UK Government have set aside £3.6bn for transitional relief for business in England, where the multiplier is already lower. The proportionate amount for Wales should be around 5% of this – around £180m. However, the Welsh Government has only announced a package of support worth £10m so far, and it remains unclear as to how this is to be targeted.
“It is crucial that support is available to those hardest hit – here in Conwy, we have seen increases in every sector – including retail, industry and office, with a total increase in rateable value of 9.2%.
“The Welsh Government must work with local authorities, businesses and communities to identify where support must be focused, to ensure that our home-grown businesses here in Aberconwy and across north Wales are able to grow and thrive, rather than be hampered by hikes to their bills.
“I have called on the Cabinet Secretary for Finance and Local Government to work with his colleagues in Welsh Government to ensure the long-term security of our Welsh local economies.”
ENDS
Notes:
Janet Finch-Saunders AM has tabled the following Written Assembly Question to the Cabinet Secretary for Finance and Local Government, 01/03/2017:
Further to the recent VOA revaluation, what assessment has the Cabinet Secretary made of suggestions that, following the UK Government offering £3.6bn transitional relief for business in England, a proportionate amount of £180m should be made available in Wales, and how is he taking such suggestions forward?
Percentage changes in rateable values between 2010 and 2017 valuations by local authority and sector – table:
Source: Valuation Office Agency, Non-domestic rating: change in rateable value of rating lists, England and Wales, 2017 Revaluation
Photo: Janet speaking at a Cross Party Group on Small Shops event, of which she is Chair