Cost of Living

Part of 1. Questions to the Minister for Economy – in the Senedd at 1:36 pm on 19 January 2022.

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Photo of Jane Dodds Jane Dodds Liberal Democrat 1:36, 19 January 2022

I'm sure we're all increasingly concerned about the situation in Wales, and particularly about the pressures faced by small businesses. The pile-up of the effects of COVID, Brexit and now of rising energy costs, national insurance increases and inflation is putting huge pressures on small businesses. Labour market statistics out today show that wage increases have been far outstripped by inflation, leading to a fall in actual wages. A 2021 survey by the Federation of Small Businesses found that energy costs are the biggest concern facing its members and warned that they could pose an existential threat to small firms. Just two points from me. Minister, what support could be given to businesses to enable them to invest in energy efficiency and decarbonisation measures? The Welsh Liberal Democrats have put forward plans for a business rate investment relief fund, and I wondered if you had given any consideration to introducing similar financial relief to aid businesses during the energy crisis. Diolch.