No clear direction for business rates support in north Wales

Wednesday, March 24, 2010

The deputy first minister has addressed concerns of businesses in north Wales.

By Ashley Brunskill

There is no clear direction that business rates support and other measures should take in Wales, the deputy first minister said at Friday's (March 19th) North Wales Economic Forum (NWEF).

Ieuan Wyn Jones revealed that additional business rate relief would take £40 million out of the £240 million budget of his department, the Daily Post reported.

He said that while some individuals want government intervention to help companies in Wales through the economic downturn, others believe that market forces should dictate the future.

"It is very difficult to detect a uniform view of what the new approach should be," the newspaper reported Mr Jones as saying.

Many firms have said business rates need to be reduced as the last assessment was before the full impact of the recession hit the UK.

The NWEF was set up in 1996 and is a voluntary partnership that helps to develop consensus, rather than acting as the sole voice of businesses in north Wales.

Source: ask-re The Property People LLP