High streets and business rates

Rhianon PassmoreLabour

18 July 2024, Finance Committee

Financial Transactions Capital: Evidence session 1

That does make sense; it's clarified it. In regard, then, to the advantages of coming to you rather than a high-street bank, at perhaps a different or even a lower rate, is it because you are more speculative in terms of those very high-risk start-ups, bearing in mind our mandate to create and…

Tagged for: “high-street”Official Record

Peredur Owen GriffithsPlaid

18 July 2024, Finance Committee

Financial Transactions Capital: Evidence session 1

Because why come to you if they can go to a high-street bank and get better commercial terms, I suppose?

Tagged for: “high-street”Official Record

Peredur Owen GriffithsPlaid

18 July 2024, Finance Committee

Financial Transactions Capital: Evidence session 1

And those interest margins or terms, are they comparable to high-street banks, or do you price for risk, because—?

Tagged for: “high-street”Official Record

Luke FletcherPlaid

17 July 2024, Plenary

Finance Committee Debate: Welsh Government's spending priorities for the 2025-26 budget

…the Local Government Finance (Wales) Bill scrutiny, and that's varying the multiplier when it comes to business rates. This potentially could be a cost-neutral policy. I think we need to look at actually how we support businesses, because we've seen that reduction in business rates relief, and we…

Tagged for: “business rates”, “hospitality sector”, “high street”, “town centres”Official Record

Peredur Owen GriffithsPlaid

17 July 2024, Plenary

Finance Committee Debate: Welsh Government's spending priorities for the 2025-26 budget

…businesses and economies. It would be remiss of me not to mention the concerns around the reduction in rates relief and the huge impact this will have on certain sectors such as leisure and hospitality businesses, leading to the closure of venues and job losses. Sadly, again this year, a number of…

Tagged for: “rates relief”, “hospitality businesses”Official Record

Huw Irranca-DaviesLabour

17 July 2024, Plenary

Questions to the Cabinet Secretary for Climate Change and Rural Affairs

Rate relief is one factor. I've got to say, Sam, that I’m pleased that we are still providing business rates relief for the sector, in fact, to the tune of an additional £78 million, to provide the fifth successive year of support with non-domestic rates bills. This does build on the almost £1…

Tagged for: “business rates”, “non-domestic rates”, “retail, leisure and hospitality”, “rates relief”…Official Record

Jack SargeantLabour

17 July 2024, Plenary

Questions to the Cabinet Secretary for Climate Change and Rural Affairs

…your engagement with the industry. Through this, you will be aware of the concerns around the DRS and non-domestic rates. Will you again commit on the floor of the Senedd to engaging further with partners in the UK Government and the industry directly to ensure that we get the right solutions to…

Tagged for: “non-domestic rates”Official Record

Rebecca EvansLabour

17 July 2024, Plenary

Questions to the Cabinet Secretary for Finance, Constitution and Cabinet Office

…in Wales, the tax base is very different. So, we do differ significantly from England in terms of our non-domestic rates. We've got a much higher proportion of small properties with low rateable values, so it's absolutely right that our rates system recognises that. And, of course, we capped the…

Tagged for: “non-domestic rates”Official Record

Peter FoxConservative

17 July 2024, Plenary

Questions to the Cabinet Secretary for Finance, Constitution and Cabinet Office

…look at the evidence. In Wales, our retail, hospitality and leisure sectors are paying twice as much in business rates as their counterparts in England, despite many businesses being separated from England by mere miles or, in some cases, the width of a river. First-time buyers in Wales are also…

Tagged for: “business rates”Official Record

Rebecca EvansLabour

17 July 2024, Plenary

Questions to the Cabinet Secretary for Finance, Constitution and Cabinet Office

…in order to taper the relief. I don’t think it’s sustainable for businesses to be reliant on temporary business rates in that kind of longer term, because those temporary reliefs can come to an end at any point, which is part of the thinking around the tapering of that relief. But, absolutely, I’m…

Tagged for: “business rates”Official Record

Jane DoddsLib Dem

17 July 2024, Plenary

Questions to the Cabinet Secretary for Finance, Constitution and Cabinet Office

…small businesses and hospitality are being directly affected by them not having the 75 per cent small business rates relief, which they previously did have. And I've just heard what you said concerning the review, and that's really, really welcome. We know that small businesses are the lifeblood of…

Tagged for: “business rates”Official Record

Rebecca EvansLabour

17 July 2024, Plenary

Questions to the Cabinet Secretary for Finance, Constitution and Cabinet Office

…We're investing more than £0.33 billion this year in support for businesses in respect of their business rates. I will look at the guidance that we provide to local authorities in respect of recognising individual circumstances and businesses that have recently ceased trading, because, of course…

Tagged for: “business rates”, “non-domestic rates”Official Record