Commenting on the vote that passed in the National Assembly that will mean that business rates increases will be capped below the rate of inflation, Eluned Parrott, Welsh Liberal Democrat Shadow Business Minister said:
“I am delighted that business rates are to be capped in Wales. This is something the Welsh Liberal Democrats have been arguing for and I am pleased that the Welsh Government is following the Coalition Government’s lead on this issue.
“This decision will ensure that businesses in Wales won’t be put at a disadvantage by comparison with those in England and helps to show that Wales is open for business.
“Business rates are a deeply regressive tax that hit small businesses disproportionally hard. In the long term, businesses rates must be reformed. However, I believe that it is absolutely right that some of the money the Welsh Government received in the Autumn Statement is used to help boost the economy in Wales.”
