There are 126,700 non-domestic properties in Wales liable for business rates, and I take my hat off to them. Business rates have increased by 10 per cent in the last six years; compare that with 3 per cent in England, 2.9 per cent in Scotland. That's making Wales the most business-unfriendly corner of the United Kingdom. The FSB's national chairman stated that the current business rate system is contributing to empty shops. And when we see an empty high street, it isn't just the fact that there aren't the businesses there; it doesn't look good to see empty shops on a high street. It actually brings down the value of other shops.

Eighty eight per cent of businesses believe that you should be using tax breaks to boost growth, and I welcome the retail, leisure and hospitality rates relief scheme, but it only stretches to 50 per cent relief with a cap of £110,000. And I believe what FSB is saying to be true. We should reintroduce the 100 per cent business rates holiday for retail, leisure and hospitality businesses. To put it short, some businesses could shut up shop and simply trade online, and we do not want that to happen. We should be rewarding their presence on our high streets, keeping them as vital, living areas that people can frequent.