The Assembly Member for Aberconwy has called on the Welsh Government to urgently seek to cap the business rates multiplier and “radically reform” the business rates system.

The Welsh Conservatives’ debate in the National Assembly for Wales this week focused on support for small and medium-sized enterprises (SMEs), including retailers and high street businesses.

Business rates in Wales are waived for businesses with a rateable value of £6,000 or under. This figure is £12,000 in England, and £10,000 in Scotland, meaning that a business with a rateable value of £12,000 in Aberconwy will be liable to pay £5,988 in business rates here in Wales, whilst in England their bill would be £0, and a business valued at £10,000 would owe an amount of £3,323, but in Scotland that figure would be £0.

Janet said: “Many local businesses have been hard-hit by the draft revaluations and I am concerned that they may be further affected by an increased multiplier from April 2017.

“Too often, I am approached by businesses who feel they are paying far too much – some paying rates far higher than their rent, with costs running into tens and hundreds of thousands of pounds.

“I have called on the Welsh Government to cap the future multiplier as a matter of immediate urgency, and believe it is essential to radically reform our business rates system here in Wales and increase the rateable value (RV) at which a business begins to pay rates.

“This situation is unacceptable and unsustainable. For north Wales to compete with other UK regions our SMEs in Aberconwy need the full support of our Welsh Government.”