Rebecca Evans MS, Minister for Finance and Trefnydd
This was published under the 2016 to 2021 administration of the Welsh Government
I am today confirming that the Welsh Government will be providing an additional £380m package of non-domestic rates relief for businesses in sectors most directly affected by the Covid-19 pandemic.
All retail, leisure and hospitality businesses occupying properties with a rateable value of up to £500,000 will receive 100% non-domestic rates relief for the duration of 2021-22. This enhanced retail, leisure and hospitality relief scheme, in combination with our existing Small Business Rates Relief scheme, will ensure that over 70,000 businesses in Wales will pay no rates at all in 2021-22.
The scheme will operate in the same manner as it did in 2020-21, with local authorities in Wales being responsible for the administration of the scheme.
In addition, I will also be providing businesses in the leisure and hospitality sectors with a rateable value of over £500,000 with 100% rates relief for 2021‑22, recognising the acute impact the pandemic has had on these sectors.
This significant package makes full use of the consequential funding for Wales resulting from the Chancellor’s Budget on 3 March.
It will support businesses across Wales in navigating their way through the next year and will aid in their longer term recovery from the economic effects of the coronavirus.
The support goes further than that provided to businesses in England, reconfirming our commitment to support businesses in Wales and helping them through the difficult and unpredictable economic conditions.