The £380m packages provides non-essential retail businesses with retail values up to £500k, as well as charities in Wales, with 100% business rates relief for a further 12 months. The Minister also committed to providing businesses and charities in the leisure and hospitality sector with a rateable value of more than £500k with 100% rates relief for 2021-22.
In yesterday’s budget, the UK Chancellor extended the 100% business rates relief for the sector in England until the end of June 2021.
He also pledged an extra £740m in funding for the Welsh Government.
Business Rates Director, Andrew West commented, “It is very pleasing that the Welsh Government has moved swiftly to confirm the year-long extension of 100% business rates relief for most of non-essential retail. This will provide certainty and remove a considerable burden from the struggling sector.
“Both Wales and Scotland have now gone further than England with this relief scheme.”