Independent retailers across Wales with a rateable value between £9,100 and £50,000 will receive a £2,500 reduction to their annual business rates from April.
The Welsh government has set aside £23.6m for next year’s relief, while the threshold to receive 100% rates relief has been extended from £6,000 to £9,100. Local authorities will also receive an additional £2.4m to provide discretionary rates relief.
Mark Dudden, of Albany Road Post Office in Cardiff, told RN: “The legislation is welcome and any financial help to small businesses will always provide significant relief.”
NFRN national president Mike Mitchelson said: “For years, the NFRN has been pressing the Welsh and UK governments to relieve the heavy burden that weighs on retailers’ shoulders.”
Finance secretary Mark Drakeford added: “This enhanced high street rate relief scheme for 2019-20 will ensure more ratepayers across Wales receive support to pay their bills and can continue to provide much-needed services to their local communities.”
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