Diolch. I move the motion to approve the Non-Domestic Rating (Multiplier) (Wales) Order 2019. The Order sets the multiplier for non-domestic rating purposes for 2020-21. In 2011, the Welsh Government set out its intention to change the measure of inflation used to calculate the multiplier in Wales from the retail price index to the consumer price index from 1 April 2018.

For 2018-19 and 2019-20 this was effected through Orders approved by this Assembly. This Order sets the multiplier for 2020-21 on the same basis. In order to be effective, this Order needs to be approved before the vote on the local government finance reports—the final local government and police settlements— for 2020-21.

The Non-Domestic Rating (Multiplier) (Wales) Order 2019 will set the multiplier for 2020-21 using the consumer price index rather than the retail price index. The Order will result in a smaller increase in the 2020-21 rates bills to be paid by businesses and other non-domestic property owners than would be the case if the RPI figures were used. Through our use of CPI, businesses and other ratepayers in Wales will benefit by a further £10 million in 2020-21. This is in addition to the benefits resulting from the change of indexation in 2018-19 and 2019-20. Our intention is to continue with the same approach in future years.

The Local Government and Elections (Wales) Bill, introduced on 18 November, contains provisions to make the change a permanent one. I'm grateful to the Constitutional and Legislative Affairs Committee for its consideration of the multiplier Order.

Non-domestic rates are largely devolved. Using CPI rather than RPI to calculate the multiplier limits the increases in rates bills that ratepayers would otherwise face. This change will help businesses and other ratepayers in Wales while maintaining a stable stream of tax revenue for local services. The change is fully funded by the Welsh Government and there'll be no impact on the funding provided for local services. I therefore ask Members to agree to approve the Order today.