Montgomeryshire Assembly Member, Russell George, has said that significant business rate relief had to be a key part of the development of local growth zones in Powys.
The AM made his comments following the publication of the Business Rates Wales Review. Last November, the Welsh Government commissioned an independent Business Rates Review Task and Finish Group, chaired by the Director of Creative Leadership and Enterprise atCardiff Metropolitan University, Professor Brian Morgan, to examine current business rates policy and how it met the needs of Welsh business.
Professor Morgan’s panel made 19 recommendations, includingenabling local authorities to retain a proportion of the income they generate from business rates, to introduce an exemption from empty property rates for premises with a Rateable Value not exceeding £6,000, to implement initiatives to level the playing field between out-of town developments and city centres in a sustainable way and to devolve business rates to Wales.
Commenting, Mr George said:
“I do welcome the majority of recommendations in this report; however I was disappointed that Professor Morgan didn’t recommend introducing the Welsh Conservative policy of scrapping rates for businesses with a rateable value of up to £12,000.
“This would have provided the kind of immediate support that is sorely needed and it was an important initiative that I emphasised in my submission to the Task and Finish Group examining Local Growth Zones in Powys.
“The report recommends that the Government introduce a limited and targeted rate relief scheme within established Enterprise Zones in Wales.
“However, I have asked the Business Minister to discuss this further with Professor Morgan to see if the scope of that recommendation could be expanded to take in the future development of local growth zones because I believe significant business rate reduction will be a key factor in ensuring their success.
“I have also impressed on the Minister the need to expand Business Improvement Districts (BIDs) across Wales, as they are important vehicles to help regenerate our town centres and encourage businesses back to our high streets.”
“I would like to see the Government pilot sector specific BIDs and have urged the Minister to look favorably on Mid Wales as a potential site to do that.”