WRC responds to draft Welsh Budget

Responding to the Draft Welsh Budget, 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 facing challenging trading conditions whilst being thwacked by a range of statutory costs. The plan to reduce rates for the smallest shops is encouraging, but a high proportion of retailers operate from medium-sized and larger premises and are threatened with a new business rate surtax. These medium sized and larger stores 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, and the surtax could see them pay even more than their counterparts occupying equivalent stores in England. The Welsh Budget needs 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.”