A new permanent Small Business Rate Relief scheme from the Welsh Labour Government will provide support and security for small businesses across Gower, local AM Rebecca Evans has said.
The permanent small business rates relief scheme, which will be introduced from 1 April 2018, will provide 100% relief for sites with a rateable value of £6,000 or less and then tapered relief for sites with a rateable value of between £6,000 and £12,000.
As part of the scheme, there will also be a limit to the number of properties that a single business can claim rate relief on. This means that large businesses and national chains will be prevented from benefitting greatly from the scheme, and will allow relief to be channelled more effectively to support small and local businesses.
Rebecca Evans AM said: “Small businesses are at the heart of our local economy. The new permanent small business rate relief scheme from the Welsh Labour Government rightly recognises the vital role they play.
“The new permanent scheme will provide more certainty and security for small businesses across Gower, supporting local jobs and economic growth.”
The Welsh Government has made a particular promise to extend the free childcare offer available to working families. To support childcare providers, their upper threshold for rates relief will increase from £12,000 to £20,500.
The scheme also provides £5 million across Wales to extend the temporary high street rates relief scheme into 2018-19.