🍻 Exciting news from across the UK! The UK Government just announced that pubs and music venues in England will receive a 15% discount on business rates starting this April! 🎉 But what about Wales?
The Welsh Government is working through the implications of this announcement, since business rates are handled locally. Their statement promises that nearly half of Welsh pubs will continue benefiting from rates relief next year, with more than a quarter paying no rates at all. Plus, there’s been over £1bn in temporary support for retail, leisure, and hospitality sectors since 2020.
UKHospitality Cymru has raised concerns about the impact of potential rate hikes on Welsh hospitality. The sector is facing a daunting £122m increase over the next three years. David Chapman, executive director of UKHospitality Cymru, stresses: “The business rates system is broken and risks damaging Welsh hospitality.”
They’re calling on the Welsh Government to invest its share of the new funding to tackle these hefty rate increases. A robust package of support is needed to ease pressure on businesses and ensure economic growth. 🌱
Let’s see what steps will be taken to support our favourite local spots here in Wales! 🍻