SUPPORTING OUR SMALL BUSINESSES

Plaid is set to utilise business rates multiplier to tip the scales in favour of smaller businesses.

Plaid Cymru leader Rhun ap Iorwerth has criticised the support offered to Welsh hospitality businesses by the Labour Welsh Government.

From April, every pub in England will get 15% off its new business rates bill, and bills will then be frozen in real terms for a further two years.

The support offered by the Labour Welsh Government is only for the 2026/27 financial year, a period of time that does not provide the sector with the same level of longer-term certainty, according to Plaid Cymru.

Plaid Cymru called on the Labour Welsh Government to go further by utilising the business rates multiplier to support smaller businesses and designing a tax system that is ‘on the side of SMEs’.

Plaid Cymru leader, Rhun ap Iorwerth MS, said:

“Whilst welcoming today's announcement - as called for by Plaid Cymru in recent days, this is only a short term solution that gives little long term assurance to a sector worth £4bn to the Welsh economy that cannot survive on a one-year settlement basis alone.

“In Wales, it’s clear that Labour has no long term plan - something that is essential for the viability of the hospitality industry.

“It’s clear that the business rates system in Wales is fundamentally broken and that the hospitality sector is facing an existential crisis. Which is why a pro-business Plaid Cymru government would prioritise the radical reform needed.

“A Plaid Cymru Government would utilise the business rates multiplier to tip the scales in favour of smaller businesses by designing a tax system that is firmly on the side of SMEs.

“Plaid Cymru is serious about giving Wales’ economy the fresh start it needs with real plans to support those businesses that need it the most.”

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