The Association of Convenience Stores (ACS) has welcomed an announcement from the Welsh Government that business rates in Wales will be frozen for 2021/22.
Finance Minister Rebecca Evans MS confirmed today (15 December) that businesses rates in Wales will not be subject to an inflationary increase in 2021-22. It is estimated that the freeze will support around 54,000 ratepayers across Wales, who are not already receiving 100% rates relief.
ACS chief executive James Lowman said, “Local shops have acted as lifelines for communities across Wales, particularly for those who may be more isolated or vulnerable, providing their customers with essential products and services throughout the course of the pandemic.
“We welcome the Welsh Government’s decision to freeze business rates as this will provide convenience retailers with much-needed support in their recovery from the effects of the coronavirus crisis. We are pleased that the Welsh Government has listened to our concerns about the burden of business rates and are taking action.”
Findings from ACS’ 2021 Welsh Local Shop Report show that over the last year convenience stores in Wales have invested over £30million in their businesses to ensure that they can continue to provide essential products and services to their communities, including cash machines (73%), bill payment services (77%) and a Post office (29%).
Earlier this year, the Welsh Government introduced a number of measures to support businesses affected by the pandemic, including a rates relief package worth £580 million.