A Plaid Cymru government will lower business rates for 80% of Welsh businesses, the Party of Wales’ newly-appointed Shadow Minister for Small Businesses Siân Gwenllian and party leader Leanne Wood have said.
Ahead of visiting small businesses in Bangor, Siân Gwenllian said that under Plaid Cymru’s proposals, all businesses with a rateable value of up to £20,000 will be offered greater support. This will help 90,000 businesses, with 70,000 paying no business rates at all and 20,000 paying reduced rates.
Plaid Cymru’s proposals will mean that even more businesses in all parts of Wales could be helped.
Party of Wales Shadow Minister for Small Businesses Siân Gwenllian said:
“Wales has a strong entrepreneurial spirit and we want to harness this enthusiasm. Under Plaid Cymru’s plans, Wales will move from having the highest rates for small business to the lowest, giving us a new competitive edge in the battle to attract, retain and motivate the business founders of tomorrow.
“Plaid Cymru’s plans to extend business rate relief to all businesses with a rateable value of £20,000 will take 70,000 businesses out of paying rates altogether.
“Plaid Cymru will help businesses in all parts of Wales and will give them much-needed support in difficult economic conditions.”
Plaid Cymru leader Leanne Wood added:
“Small businesses make up 98% of all businesses in Wales, and Plaid Cymru is serious about giving them the support they need. That’s why I have appointed Siân Gwenllian as a Shadow Minister for Small Businesses, emphasising the importance of small businesses to Wales’ economy.
“Under the Party of Wales’ proposals, 80% of all businesses will be given help with their businesses rates, giving them a much-needed boost.
“Plaid Cymru is the party of small businesses and under our proposals we will make it easier for small businesses to bid for public sector contracts, we will give small businesses better access to funding by establishing a business lending bank, and Plaid Cymru will put more money in their pockets by cutting their business rates.”