At the start of High Street Week, Economy Minister Edwina Hart has announced the Welsh Government has extended and enhanced the Wales Retail Relief scheme for 2015-16 which will help retail businesses cut up to £1500 off their rates bill.
Last year more than10,500 retailers across Wales benefited from the scheme which cut annual rates bills by up to £1000.
Economy Minister Edwina Hart is encouraging eligible retail, food and drink businesses to take advantage of the additional savings offered in the current financial year by the Wales Retail Relief scheme.
The Minister said: “ The Welsh Government introduced Wales Retail Relief last year to help retailers across Wales, many of which were experiencing difficult trading conditions. I am pleased that more than 10,500 businesses benefited from reduced rates that helped cut their costs and improved their bottom line.
“I hope many more businesses will take advantage of the extended and enhanced scheme that we have launched this year and I would encourage them to contact their local authorities that are administering the scheme on behalf of the Welsh Government.
“Our town and village centres need successful traders and Wales Retail Relief contributes to the package of Welsh Government support aimed at developing vibrant and sustainable town centres.”
Ratepayers that stand to benefit from this relief will be occupying properties that have a rateable value of £50,000 or less, that are wholly or mainly being used as retail premises – shops, restaurants, cafes and drinking establishments. The relief is available until 31 March 2016 and offers up to £1,500 subject to state aid limits. Business that benefited from relief last year can also apply for the current relief.
The announcement comes during High Street Week, the highlight of the Welsh Government’s ‘Support Your High Street’ campaign, which encourages people to make use of the excellent shops and businesses available on their doorstep. Events and fun family activities are taking place across Wales this week, such as food and craft fairs, children’s activities, vintage days and street parties.