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03 February 2015

FSB Wales welcomes business rates announcement

Reference number: PR030215

Commenting on the Economy, Science and Transport Minister''s statement on business rates today, FSB Wales Policy Chair Janet Jones said: "We welcome the announcement by the Minister that Small Business Rates Relief is to be extended for another year.

"As an organisation which has campaigned strongly for a fairer system of business taxation in Wales we also welcome the publication of the report of the panel, to which we have contributed.

"While the report''s recommendations are not as far-reaching in some areas as we might have liked, it undoubtedly acknowledges some important points, and makes a number of welcome calls for action.

"We have long argued for the eventual replacement of business rates and particularly welcome the recommendation for Welsh Government to research alternative forms of taxation, including land value tax.

"We also welcome the recognition that we must not let maintaining consistency with England act as an excuse for inaction when it comes to reforming this tax to better meet the needs of Welsh businesses."