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Unique city centre rate relief scheme

Posted on Tuesday 1st March 2022

Councillor Jane Mudd, leader of Newport City Council, has announced a new business rate relief scheme to help the city centre’s retail, leisure and hospitality sectors.

Full council gave its backing to the proposal that eligible businesses will receive a 25 per cent reduction on their rates bill on top of the Welsh Government’s rate relief for next year.

It means that those eligible for the Welsh Government scheme and the council support could have their business rate bills for next year reduced by 75 per cent.

The Newport scheme will also continue in 2023/24 to give continued support to the sectors as they recover from the impact of the pandemic.

Councillor Mudd said: “The Newport city centre local rate relief scheme is unique and represents a significant investment and focus on our businesses in the city centre.

“It builds on the Welsh Government-funded scheme which will provide maximum rates relief of up to 50 per cent rates relief to all qualifying businesses next year.

“Our new scheme is specifically designed to give additional support to retail, leisure and hospitality outlets in the city centre and could help around 160 businesses.

“It will not only help existing outlets remain viable, but also offer an incentive to new businesses to move into empty retail units.

“Newport is not alone in having high numbers of empty privately-owned shops in the city centre.

“We believed that our targeted scheme is a great way to tackle this issue while helping those city centre businesses that have faced an incredibly difficult couple of years.

“It represents a significant opportunity to support business, our city and our residents, through helping existing businesses recover from the pandemic and encouraging new businesses into the city centre.”

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