Council agrees to implement business rates retail relief scheme
Posted on Tuesday 28th July 2015
Newport City Council will adopt the Welsh Government Retail Relief scheme after it was decided to proceed with it at a full Council meeting.
The scheme was first introduced last year after Newport City Council agreed to adopt it and saw 343 businesses in the Newport area benefit through reduced business rates bills.
As a result of agreeing to continue with the scheme it is anticipated that a similar number of businesses will again benefit from the scheme, with reductions of up to £1,500 per premises.
Newport City Council’s Cabinet Member for People and Business Change, Councillor Gail Giles, said: “This scheme, which the council adopted last year, has benefitted many businesses in Newport. It assists local businesses and in a still challenging financial environment provides them with support and help.”
Newport City Council will be allocated funding of £691,814 for the scheme that will see retail premises benefit from relief. Qualifying businesses will be invited to apply for the rate relief in the next two weeks.