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2010-10-25 : Conservatives propose to scrap business rates for Welsh small firms
The Welsh Conservatives have made a pitch for the small business votes ahead of next year's Assembly elections.
They propose to scrap business rate payments for companies with a rateable value of £12,000. This would amount to potential savings for some businesses of up to £5,000 per year.
The Tories wish to encourage people to set up new ventures as they believe most of the economy growth will come from small and medium businesses. The plan is to fund the proposal from land sales over a four year period from Welsh Development Agency land, which now belongs to the Assembly.
The Federation of Small Businesses believe this new policy will win support from members of their organisation, as the impact of business rates is greater on smaller companies than larger ones.
The Conservatives have added if they won power they would introduce a manufacturing strategy to safeguard jobs, saying too many have been lost over the past eleven years.
Many businesses are still unaware of potential savings that can be made in their business rates. For a free business rate review contact Ruddle Merz on 0800 883 0353 or email enquiries@ruddlemerz.co.uk.
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