CBI response to Welsh Government's business rates freeze

Ian Price, Director, CBI Wales, said:

“Thousands of businesses face not only an unprecedented increase of around 10% in their business rates bill this April, but new property revaluations will mean a further increase in their overheads at the worst possible time. 

“The Welsh Government’s decision to step in to prevent an increase of around 10% hitting firms is a glimmer of good news in an otherwise challenging climate. Welsh firms will now benefit from the same protections the Chancellor introduced for English firms at the Autumn Statement. 

“Social partners should now use this reprieve to see how Wales can reform business rates so it becomes a driver of growth and employment.”