Shadow Minister for Equality Mohammad Asghar has called on the Welsh Assembly Government to slash business rates to help Welsh businesses.
Speaking in the Senedd on Wednesday, Mr Asghar highlighted how “a lack of business rate relief in Wales has caused considerable damage to many small businesses”.
He added: “The business rate burden has been too much to handle for many small businesses while, for others, it has squeezed them to near breaking point. Times have been particularly hard for many businesses across my region”.
The South Wales East AM emphasised how reducing business rates would bring lasting benefits to Welsh businesses and the nation’s economy.
He added: “The First Minister and other Cabinet Members regularly emphasise a commitment to stimulating growth in the private sector. It was also a commitment of the ‘One Wales’ Agreement to create a positive climate for business growth and, additionally, to use all the tools available to enable business to flourish and expand.
“We have powers in Wales to aid and push forward economic development and a more far-reaching relief scheme would aid small businesses in the current climate. It could also prove invaluable in encouraging new business start-ups. Such powers could be the strongest and most influential tools at the Welsh Assembly Government’s disposal”.
