WRC responds to Welsh consultation on business rates

Responding to the announcement of a Welsh consultation on business rates, Sara Jones, Head of the Welsh Retail Consortium, said:

“Welsh Ministers have made headway on aspects of the business rates agenda in recent years, notably introducing more regular revaluations. However, the Welsh business rate is the highest in GB and has risen to a 26-year high, at a time when retailers are being thwacked by a range of statutory costs. Whilst the consultation on proposals to reduce rates for the smallest shops sound like an encouraging step, a high proportion of retailers operate from medium-sized and larger premises.  These are shops that help underpin the health and vitality of our town and city centres and high streets across Wales and account for a large share of retail jobs.

“The proposals as they stand suggest these stores could pay even more than they do at present, and more than their counterparts occupying equivalent stores in England. We need to ensure a commensurate rates reduction applies to medium-sized and larger stores too. It's not in the interests of the Welsh economy for retailers to be incentivised to invest in Cheltenham over Cardiff.”