£10 million Small Business Rate relief a drop in the ocean

Commenting on the announcement of further details from the Welsh Government on how its £10 million fund for additional business rate relief will be spent, Monmouth AM Nick Ramsay said:

“While any additional relief to help small businesses cope with the massive rise in their business rates from April is welcome, for many facing hikes of thousands or even tens of thousands of pounds, £1,500 is a drop in the ocean.

“The 2017 revaluation is hitting many Monmouthshire high street businesses hard and while a small amount of relief is being promised this year, it seems these businesses will have to cope without any Welsh Government support next year.

“Small businesses are the lifeblood of the Monmouthshire economy and we should be doing all we can to support them.  I fear that this announcement from the Welsh Government may be too little, too late.”