Business rates are set to be frozen in Wales for the 2021/22 financial year, Welsh Government has confirmed.
In a Welsh Government statement, it is said 54,000 ratepayers across Wales, who are not already receiving 100% rates relief, will be supported by the move.
Finance Minister Rebecca Evans said: “We recognise the pressures that businesses are facing and we are continuing to explore the support measures we can put in place to help businesses cope with the economic impact of the coronavirus pandemic and the end of the EU transition period.
“The announcement I have made today [December 15] provides businesses with the reassurance that they will not see an increase in their business rates liabilities next year.”
In March, Welsh Government offered rate relief to businesses as the country prepared to face the oncoming coronavirus pandemic.
Conservative Shadow Finance Minister, Nick Ramsay MS, welcomed the latest announcement but said it “doesn’t go far enough”.
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