BIRA celebrates Welsh Government's move to support retailers in budget

The British Independent Retailers Association has thanked the Welsh Government for its recent announcement it will be supporting independent retailers into 2023.

The association, which works with over 6,000 independent businesses of all sizes across the UK, recently wrote to the Welsh leaders, highlighting the struggle independent retailers and the high street have suffered since 2020 and the pandemic - and has asked leaders to offer extra support for them.

Today it was announced that there would be a package worth more than £460m over the next two years.

The package will provide a boost to businesses across Wales which are struggling to cope with the impacts of high inflation and surging energy costs. It operates in addition to permanent relief schemes from the Welsh Government which are already providing £240m of relief to ratepayers across Wales this year.

The non-domestic rates multiplier has been frozen for 2023-24, at a cost of more than £200m over the next 2 years. This ensures there will again be no inflationary increase in the amount of rates businesses and other ratepayers are paying.

Andrew Goodacre, CEO of BIRA said: "This month we wrote to the Welsh government asking for the same approach to business rates that we have seen announced in England. I am delighted that we have been listened to today the Welsh government announced that the business rates multiplier will be frozen, and the retail discount will be increased to 75% (from 50%) for eligible businesses.

"This is good news and these changes will be implemented as from April 2023. We now hope the Scottish government follow suit in its budget announcement later this week.”