FSB welcomes business rate transfer to Wales

The full devolution of powers over non-domestic rates to Cardiff Bay now opens the way for the reform of the current Welsh business rates regime, which is the most onerous for small businesses in any constituent nation of the UK.

There is now no barrier to the Welsh Government reforming the business rates system to support small firms on high streets across Wales. Some work has already been done in this area and we would call for the rapid adoption of the recommendations of Professor Brian Morgan’s report into business rates, particularly his call for rates to be locally retained.