Commenting on the announcement from the UK Government that the Welsh Government is going to be given full power over non-domestic business rates raised in Wales, Nick Ramsay AM, Shadow Minister for Business, said:
“This is a very welcome announcement, which enables an informed debate in Wales about how we can create the conditions for private sector growth to enable small businesses to survive, expand and create new jobs.
“Welsh Conservatives are a low tax party and have long campaigned for the devolution of business rates so they can be reduced to make the Welsh economy more competitive and allow the Welsh economy to expand.
“After 14 years of successive Labour Governments, Wales remains the poorest part of the UK, but new levers to encourage investment and entrepreneurship could enable Wales to start climbing back up the UK league table.
“Small and medium-sized enterprises are the backbone of the Welsh economy, making up 99% of all businesses and for most, business rates are the biggest barrier to expansion and job creation.
“The devolution of business rates is a challenge to the Welsh Government to start using its newly upgraded toolbox to promote economic growth and create jobs.”
