Tax cut pledge not met warns FSB Wales

Responding to the announcement on business rates from the Welsh Government today FSB Wales Policy Unit Chair Janet Jones said: “Whilst we welcome the announcement that Small Business Rates Relief in Wales is to be put on the same permanent basis as it has in England, to describe such a move as a tax cut for small businesses is blatantly misleading and the worst form of spin-doctoring.

“This announcement contains no changes to the current thresholds that would aid small businesses in Wales, and no mention of a small business multiplier, similar to that which already exists in other parts of the UK.

“Putting the current relief scheme on a permanent footing merely maintains the status quo and does not mean that small businesses in communities across Wales will pay any less in business rates than they did previously.

“In its manifesto Welsh Labour pledged to “offer a tax cut for all small businesses” – today’s announcement in no way meets that pledge, and we would urge the Finance Minister to look at how the Welsh Government can keep the promise that it made to the small business community and the wider electorate.”