Emergency support for businesses hit by coronavirus
17 Mar 2020 12:43 PM
The Welsh Government is today announcing a package of support worth more than £200m for small businesses to help them during the coronavirus outbreak.
Retail, leisure and hospitality businesses with a rateable value of £51,000 or less will receive 100% business rate relief and pubs with a rateable value of between £51,000 and £100,000 will receive a £5,000 reduction on their bill.
A further £100m will be available for a new grant scheme for small businesses Further details on this new grant scheme will be confirmed as soon as possible.
Announcing the decision, Finance Minister Rebecca Evans said:
I’m pleased we can offer this package of support to businesses as part of our response to the coronavirus outbreak. We are allocating every penny of the funding we will be receiving as a consequence of the schemes the UK Government announced in England last week to support businesses in Wales.
But I know that helping businesses with their rates bills will not be enough to protect them from the severe drop in custom many are experiencing as coronavirus cases increase.
We will be calling on the UK Government to act quickly and decisively to provide a very significant support package for vulnerable businesses and their employees.