Business rates freeze ‘doesn’t go far enough’

Nick Ramsay MS – the Shadow Minister for Finance – has reacted to the announcement today (December 15) on the freeze on business rates saying:

“The continuing health emergency produced by the Covid pandemic remains grave, yet the economic emergency we’re going through is still bringing about a different, but equally devastating effect.

“The announcement is therefore welcome, but doesn’t go far enough.

“Welsh Conservatives outlined earlier this year our vision, something lacking in the Labour-led administration, of how to rebuild the economy, which will require the next Welsh Government to utilise tax powers in innovative ways.

“We have pledged to create ‘Business Rate-Free Zones’, where all businesses would be free from paying business rates for up to three years, and to scrap business rates for all businesses with a rateable value of under £15,000 outside of these zones.

“Sure, the business-rates freeze from the Finance Minister is a step in the right direction, but I – and undoubtedly many businesspeople – am left feeling no real sense of assurance from her announcement.”