Changes to Business Rates in Wales

Part of 1. Questions to the Cabinet Secretary for Finance – in the Senedd at 2:11 pm on 5 December 2018.

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Photo of Mark Drakeford Mark Drakeford Labour 2:11, 5 December 2018

Llywydd, I think it is important for me to make sure that Members understand that, once the small print of what the Chancellor said on 28 October was examined, it turned out that there is to be no national scheme in England at all. There is simply to be funding to local authorities to use their discretionary powers. There will be no national rules. You will simply be in the hands of your local authority to use the money that the Chancellor provides as they see fit. So, the figures the Chancellor used are illustrative at the very best and simply not to be relied upon as representing a scheme that businesses across England can rely on. By contrast, our high-street relief scheme has a set of all-Wales rules. There is a way in which businesses will know exactly how much they will be entitled to get. And, of course, I do agree with the Member. Every penny that we will get as a result of that announcement will be spent to assist businesses here in Wales, but we will design a scheme that meets the size, the distribution and the value of the Welsh tax base in this area, which is different to the one in England, and we will design a scheme that puts the money where it will have the best effect.