Business groups urge Welsh government to freeze business rates multiplier

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Several business representatives and trade bodies are calling on the Welsh government to freeze the business rate multiplier in the coming financial year.

ACS (the Association of Convenience Stores), alongside a number of business representatives and trade bodies, has signed a letter to the Welsh Finance Minister Rebecca Evans. The letter has been submitted ahead of the Welsh Government’s Budget which is due to take place on Dec 13, which is expected to set the business rate and associated reliefs and thresholds for the 2023-24 financial year.

The letter highlights the pressures faced by businesses across Wales and calls for the Welsh Government to follow the decision taken by the UK Government to freeze the headline business rate multiplier in the coming financial year and in turn ease the pressure on businesses, help keep prices down for consumers and support business investment.

ACS chief executive James Lowman said, “Local shops play a vital role in communities across Wales, providing access to essential products and services and acting as a lifeline for customers who may be more isolated and vulnerable.

“The Welsh Government needs to take action at the upcoming Budget and provide businesses with the much-needed support that they deserve in these difficult and turbulent times.”

The letter was signed by twelve organisations, including ACS, representing a broad cross section of Welsh industry and commerce, including retailers, wholesalers, engineering manufacturing, tourism, hospitality and leisure.