Local Assembly Member, Nick Ramsay has continued his support for small businesses and the high street by welcoming the Welsh Government’s cap on business rate rises at 2% following the Chancellor’s lead.
The Chancellor of the Exchequer announced in the Autumn Statement that business rate rises in England would be capped at 2%.
Mr Ramsay, who is Shadow Minister for Business, has long been calling for business rates to be abolished for small businesses to help our increasingly deserted high streets, and spoke in the Senedd earlier this week supporting the business rate cap.
Speaking today Nick said:
“I’m pleased the Welsh Government has not put Welsh businesses at a competitive disadvantage and has followed the UK Coalition Government in capping business rate rises at 2%.
“I have campaigned long and hard for business rate reform to help small businesses stay afloat, expand and create new jobs.
“I believe it’s essential that the Welsh Government brings forward substantial reform to business rates to prevent our town centres declining further. Welsh Ministers must do everything in their power to support small business in Wales.
“I’m glad the Welsh Government has listened to my calls for this cap. It would have been unthinkable for business rates in Monmouthshire to have risen at a greater rate than business rates across the border in Herefordshire.
“Business rates in Wales were due to rise by over 3%. I’m glad this has been stopped.”