Welsh Government steps in to help small businesses affected by revaluation
Local Government Secretary has today announced plans for a new scheme to support small businesses affected by the revaluation of business properties.
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- Welsh Government steps in to help small businesses affected by revaluation
Section highlightLand Transaction Tax
Land Transaction Tax will replace UK Stamp Duty Land Tax in Wales.
Final Budget 2016-17 »
The amount of funding allocated to Welsh Government Main Expenditure Groups (MEGs) for 2016-17 is £15bn.Learn more »
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Local Government Settlement
The Welsh Government provides around 80% of the money allocated to local authorities in Wales.
This funding is known as the Revenue Support Grant and non-domestic rates and is distributed on the basis of a needs based formula. A joint Welsh Government and local authority working group, called the Distribution Sub Group is responsible for ensuring the formula is reviewed regularly.
Other local authority funding is raised locally in the form of council tax which is set by each authority as part of its annual budget setting process.
In addition, local authorities are able to apply for additional funding through Welsh Government grant programmes.