Thank you very much, Deputy Presiding Officer. I propose the motion to approve the Non-Domestic Rating (Multiplier) (Wales) (No. 2) Order 2018. This sets the multiplier for non-domestic rates for 2019-20. Last year, the Welsh Government outlined its intention to change the inflation measure used to calculate the multiplier in Wales from the retail price index, RPI, to the consumer price index, CPI, from 1 April 2018. For 2018-19, this was done by an Order, which was approved by this Assembly in January. This Order sets the multiplier for 2019-20 on the same basis. The Order needs to be approved before a vote can be held on the local government financial reports and the local government and police settlement for 2019-20. The impact of the Order will be to limit the increase in all non-domestic rating bills for 2019-20. Businesses and other ratepayers in Wales have already benefited from savings of around £9 million through our use of CPI for 2018-19, and they will benefit by an additional £22 million in 2019-20. We intend to continue to use the same methods in ensuing years.

I am grateful to the Constitutional and Legislative Affairs Committee for considering the multiplier Order and for making it possible for us to discuss it today. The committee raised a merits point on the figure for B, which is noted in the Order and in the explanatory note, but not in the explanatory memorandum. Although an explanation of the figure is included in the explanatory note, I do accept that it would have been useful to have included the actual figure in the explanatory memorandum to make the impact of the Order clear. We will deal with this merits point in further Orders.

This change will assist businesses and others who pay rates in Wales and will provide a sustainable and stable tax revenue for local services. The change has been funded in full by the Welsh Government and there will be no impact on the funding provided for local services. I therefore seek Members’ approval for this Order today.