Night time economy framework »The framework aims to help develop a sustainable, healthy and safe night time economy in Wales.Learn more »
Mark Drakeford announces details of High Street Rates Relief Scheme
Mark Drakeford today announced details of a £10m targeted relief scheme to provide extra support for high street businesses across Wales from April.
- Ken Skates visits Chongqing and Shanghai to cement Welsh links with China
- New innovation fund launched
- Mark Drakeford announces details of High Street Rates Relief Scheme
Section highlightLandfill Disposals Tax Communities Scheme
The scheme will support local community and environmental projects in areas affected by the disposal of waste to landfill.
Final Budget 2017-18 »
The amount of funding allocated to Welsh Government Main Expenditure Groups (MEGs) for 2017-18 is £15bn.Learn more »
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Non-domestic Rates Revaluation
Non-domestic properties are normally assessed every five years and given new rateable values, based on rental values, for the purpose of calculating liability for non-domestic rates (also known as business rates).
Revaluations do not raise extra revenue.
A revaluation was scheduled for 2015. However, due to economic conditions and following a decision by UK Government to delay the revaluation in England, a decision was taken by the Welsh Ministers to postpone the date of the next revaluation in Wales until 2017. The new rating list will come into force on 1 April 2017.
Revaluations do not raise extra revenue overall. Instead, revaluations reflect changes in the property market across the country, and therefore redistributes the same total tax liability for non-domestic rates.
Some rates bills will rise and some will fall, but legislation means the average national bill will only change with inflation.