Help to Buy – Wales Shared Equity Scheme »This shared equity loan will make up the shortfall between the purchase price of a property and the funding available to buyers through their cash deposit and mortgage offer.Learn more »
Major £24m investment to transform five Welsh railway stations
A £24m European-backed programme to transform five railway stations across Wales has been announced by Transport Minister, Edwina Hart.
- Leading science innovation company signs up for Life Sciences Hub Wales
- “Autumn Statement has done little to change the challenging public finance outlook for Wales” – Jane Hutt
- Major £24m investment to transform five Welsh railway stations
- Alternatives to Waste Transfer Notes and other aspects of Waste Regulation
- Proposals concerning the publication of official statistics
- Consultation on Regional engagement partnership structures in the tourism sector
- Beyond 2011: Consultation on Census and future provision of population statistics in England and Wales
- M4 Corridor around Newport Consultation
- Undertaking fatal and non-fatal drug poisoning reviews in Wales
Featured consultation »New guidance for the Risk Assessment of Walked Routes to School
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In this section
Section highlightThe Housing (Wales) Bill
The Bill will introduce significant improvements across the housing sector to ensure that people have access to a decent, affordable home and better housing-related services.
Legislative programme 2013 - 2014 »
The First Minister detailed the 8 bills in the Welsh Government’s 5-year Legislative Programme that will be brought forward during the 3rd year of the Welsh Assembly.Learn more »
Section highlightProject pipeline update - December 2013
This Wales Infrastructure Investment Plan annex highlights planned investments and potential procurement opportunities.
Final Budget 2014-15 »
The amount of funding allocated to Welsh Government Departments for 2014-15 is £14.9bn.Learn more »
- Statistics & Research
Written - NDR Revaluation – Enhancement of Rate Relief Thresholds
The non domestic property re-valuation takes place every five years in England and Wales. Revaluation is not a tax raising measure - it simply redistributes the rates payable between properties based on their relative values at the time of the revaluation. Consequently, some rates bills will rise and some will fall, but the average national bill will only change roughly with in line with any increase or decrease in the September 2009 retail price index.
Over 60% of ratepayers will benefit from the revaluation and will see a reduction in their bills because we have provisionally reduced the multiplier for 2010-2011 from 0.489 to 0.409.
I therefore propose to amend The Non-Domestic Rating (Small Business Relief) (Wales) Order 2008 so that the main relief thresholds will be increased by at least 20% so that that funding for small business rates relief is at least maintained at current levels. At least half of all business premises in
Consequently, most businesses whose rateable values have increased in line with the national average, and many whose values have increased by more than this will not fall out of the relief thresholds. The rateable value thresholds for relief will be increased as follows
- £2,000 to £2,400 for the general 50% relief
- £6,500 to £7,800 for the general 25% relief
- £9,000 to £11,000 for the 25% retail relief.
In deciding on this course of action I have considered representations from business representatives, including the Federation of Small Businesses and the Wales Tourism Alliance. They have indicated that their main priority is the uprating of the small business rates relief thresholds, and that there is little enthusiasm for a transitional relief scheme based on the English model which would effectively take money away from those businesses who are suffering the worst during the recession to cap increases for businesses that have been more successful.
The Assembly Government gave careful consideration to additional forms of assistance, including targeted measures to help small and medium sized businesses whose rateable values have increased by significantly more than the average, but due to the current difficult financial situation was unable to provide any additional funding for a viable scheme within the budget that was passed by the Assembly on 8 December 2009.
I am aware that in certain local hotspots clusters of valuations have increased by significantly more than average, but this reflects local rental values, which form the basis of non domestic rating valuations. I am also aware that some sectors of the tourism sector have had above average increases, particularly the self catering sector, However, this sector will benefit greatly from the raising of the relief thresholds, with more over 95% of these properties falling within the revised rates thresholds, and more than half of these properties potentially qualifying for 50% relief, and therefore paying less than £41 per month. Over 90% of guest and boarding houses will also fall within the revised thresholds.
The Non-Domestic Rating (Unoccupied Property) (Wales) Regulations 2008 will also be amended to raise the rateable value threshold at which empty properties are excluded from liability for non-domestic rates from to £18,000 from 1 April 2010 – 31 March 2011. This will apply to
This statement has been issued during the recess as businesses seek clarity as to their non domestic rates liabilities for next year at the earliest opportunity, and a decision on the measures could not be taken until the completion of discussions on the budget.