Decision details

The Head of the Revenue and Benefits Service presented the report, which provided the Cabinet with:

a)    Details of the Welsh Government Non-Domestic Rates (NDR) – Retail, Leisure and Hospitality Rate Relief (RLH) Scheme for 2023/24;

b)    Details of a proposed local business rate reduction scheme; and

c)    Details of the NDR Revaluation which comes into effect from 1^st April 2023.

The Cabinet Member for Climate Change and Corporate Services was pleased to note that Welsh Government had recognised the financial challenges facing businesses in Wales and welcomed the increase in level of relief to 75% across Retail, Leisure, and Hospitality sectors. The Cabinet Member was also pleased to note that the Council’s local scheme would also be increased from £300 to £500 per qualifying business premises and noted that over 600 businesses would benefit in the coming year. The Cabinet Member concluded and noted that the Transitionary Relief Scheme, coupled with the freezing of the multiplier at 53.5p would protect businesses from the impact of the Non-Domestic Rate Revaluation exercise.

The Leader added that increasing the local relief scheme from £300 to £500 was a commitment of the administration to provide over and above the Welsh Government’s schemes.

The Cabinet RESOLVED:

1.    To note the details of the WG RLH Scheme and formally adopt the scheme for the year 2023/24;

2.    The proposed local Business Rate Reduction Scheme for 2023/24; and

3.    To note the details of the NDR revaluation exercise.

Note: Following consideration of this item, the Leader left the meeting, and the Deputy Leader took the Chair.