Business rate cap will be welcome news to business, says AM
Labour AM for the Vale of Clwyd, Ann Jones, has welcomed that rates rises for businesses across Denbighshire will be capped at 2% for the financial year 2014-15.
Mrs Jones said: “Businesses have been struggling with rising costs and this rate rise cap will be welcome news, especially to small business owners.
“The Welsh Labour Government has shown once again that is supporting businesses in this difficult economic climate”.
The order made by the Welsh Government will match that announced in England and Scotland recently. Previously the increase was in line with the Retail Price Index measure of inflation to September 2013 which would have meant a rise of 3.2%.
There will be no impact to Local Authorities as the funding to allow reduced bills will be provided by the Welsh Labour Government via the Non-Domestic Rates Pool.