Will the Minister confirm if there is an upper limit on the rateable value of businesses who are eligible for the business rate relief scheme, against each business sector?
The Welsh Government has announced almost £1.7bn of support for businesses during this difficult period.
All retail, leisure and hospitality premises with a rateable value of £500,000 or below will receive 100% non-domestic rates relief in 2020-21. This is in addition to our existing £230m package of rates reliefs and means, in total, more than 70,000 Welsh businesses will pay no rates at all for the year.
The particular sectoral focus on retail, leisure and hospitality reflects the decision of the UK Government to provide higher levels of relief to businesses in this sector, and the view of the business community that we in Wales should match this.