Plaid Cymru call for small business rate cut to help local shops
Ahead of this weekend’s Small Business Saturday, Plaid Cymru has repeated calls for Wales to make business rates fairer to small businesses by lowering the rates used to calculate the amount they pay.
Under the present system, small businesses in Wales pay more in business rates than counterparts in England and Scotland, while larger businesses pay less.
Wales only has one multiplier rate that applies to all businesses irrespective of size, while England has a separate rate for smaller and larger businesses and Scotland has an additional third rate for supermarkets.
With the devolution of powers over business rates to the Welsh Government, Plaid Cymru has called for Wales to follow suit and cut business rates for small businesses.
Plaid Cymru has already announced that a Plaid Cymru government would reduce business rates for companies with a rateable value of up to £15,000 – helping 83,000 Welsh companies.
Ahead of Plaid Cymru’s Senedd debate on the economy today, Plaid Cymru shadow economy minister, Alun Ffred Jones AM, said:
“SMEs are the backbone of the Welsh economy, making up 99% of the companies in Wales and more than two-thirds of the private sector workforce.
“They are the majority of shops on our high streets, and it is important that government does what it can to support them.
“Plaid Cymru recently launched our ‘shop local’ campaign for people to do their Christmas shopping locally because money spent on the high street circulates around the local economy more than money spent in supermarkets.
“With Wales now taking full control over business rates we can now help SMEs even more by following England and cutting the rate that they pay.
“At present, Wales has the most expensive business rates for small businesses but the cheapest rates for larger businesses.
“Clearly this is not fair and a Plaid Cymru government would change this by introducing a new rate for larger businesses and cutting the rates for smaller businesses.
“We would also increase the small business rate relief. Under our plans, more than 83,000 businesses would benefit and more than 70,000 would pay no business rates at all.”