Responding to the confirmation that the Welsh Government’s 2025-26 Budget has been passed by the Senedd, Ben Cottam, Head of Wales at the Federation of Small Businesses, said:
“The Welsh Government's 2025-26 Budget delivers vital business rates relief, including the extension of the 40% relief for retail, leisure, and hospitality businesses, and a 1% cap on the multiplier for all businesses. This support is essential for small business resilience.
“Small businesses have faced unprecedented challenges in recent years, including sustained rising costs, and are now confronting increased National Insurance Contributions and National Living Wage costs in April, which will significantly drive-up employment costs.
“The rates reliefs included in the Budget provide crucial breathing room, allowing businesses to navigate this difficult period. However, the Welsh Government must now act with urgency to restore confidence amongst business owners. This includes delivering on their commitment to improve the planning process through strengthening capacity, providing targeted business support for growth, and implementing meaningful reforms to the business rates system that directly benefit smaller businesses. We look forward to working in partnership to achieve this.”
Ends.
