Llywydd, the UK Government had previously set out its intention to change the measure of inflation used to calculate the multiplier in England from RPI to CPI from 1 April 2020. These plans were brought forward to 1 April 2018 in the autumn budget. The Welsh Government was not informed of this change of plan ahead of the announcement, and we've had to consider fully the costs and implications of adopting a similar approach for Wales before making a decision to change the basis for calculating the multiplier in Wales, preparing the necessary instrument and bringing it before the National Assembly this afternoon.

The Order needs to be approved before there can be a vote on the local government finance report, and the debate on the local government finance report had already been scheduled for today. I'm very grateful to the Constitutional and Legislative Affairs Committee for its early consideration of the multiplier Order, which has enabled us to debate it today. The committee noted the short time frame for the consideration of the order, but also noted that it was quite short and straightforward. If I could have avoided the tight timescales, Llywydd, I would certainly have wished to do so.

The committee also raised a merits point relating to a figure cited in the explanatory note to the Order and the Order that is not referred to in the explanatory memorandum. I apologise, of course, for this omission, and accept the view of the committee that a fuller explanation would have been helpful in describing the overall effects of the Order. A delay, however, in approving the Order, would mean postponing consideration of the lcoal government finance report, with obvious consequences for the budget planning of local authorities. It would also result in avoidable uncertainty for non-domestic rate payers in Wales, giving them less time to prepare for their plans for next year.

The Non-Domestic Rating (Multiplier) (Wales) Order 2018 will set the multiplier for 2018-19, using the consumer prices index rather than the retail prices index as the basis for calculating the multiplier. This will have the effect of limiting increases in all non-domestic rates bills for the next financial year. Businesses in Wales will benefit by £9 million in the coming financial year, and £22 million in 2019-20, as we intend to adopt the same approach for future years, bringing forward an Order for the Assembly's consideration in 2019-20.