Motion NDM6170 as amended:

To propose that the National Assembly for Wales:

1. Recognises that the retail industry employs 130,000 people in Wales, and makes a key contribution to the Welsh economy.

2. Notes that the current shop vacancy rate in Wales stands at almost 14 per cent, and the projected rate of store closures is higher in Wales than anywhere else in the UK over the next two years.

3. Reaffirms the independence of the Valuation Office Agency following the financial devolution of non-domestic rates to Wales.

4. Notes the revaluation by the Valuation Office Agency is not designed to raise additional revenue and that while some rateable values have increased, overall they have fallen.

5. Notes the Welsh Government’s:

a) decision to extend the Small Business Rates Relief scheme for 2017-18, providing a tax cut for 70,000 small businesses in Wales;

b) decision to make the Small Business Rates Relief scheme permanent from 2018 providing small businesses with certainty that this tax cut will continue;

c) commitment to review the Small Business Rate Relief scheme to make it simpler and fairer for businesses in Wales; and

d) decision to introduce a £10m transitional relief scheme in April 2017 to provide additional help for small businesses receiving SBRR who have been affected by revaluation.