What discussions is the Minister for Finance and Local Government having with the hospitality sector about the impacts of the business rate relief cut from 75 per cent to 40 per cent?
I have engaged consistently with business sectors, particularly since the onset of the Coronavirus pandemic and more recent economic challenges. The Welsh Government recognises that businesses and other ratepayers are continuing to experience pressures in the current economic climate. We are, therefore, investing an additional £78 million to provide a fifth successive year of support for retail, leisure and hospitality businesses with their non-domestic rates bills next year. This builds on the almost £1 billion of support provided since 2020-21 and forms part of a package of support communicated to all stakeholders in my statement of 19 December 2023.
Ministers and officials also meet regularly with sector representatives through our established fora that include the Welsh Ratepayer’s forum, the Visitor Economy Forum, and via regional forums for the tourism and hospitality sector in north, mid, south-west and south-east Wales. Recent meetings have provided an opportunity to discuss these matters among other issues.