Some 800 businesses in Ceredigion will be able to share in a £3.6m rates reduction pot following a decision by the county council’s Cabinet today, March 7.
A report for Cabinet members said the Welsh Government has announced the continuation of the Retail, Leisure and Hospitality Rates Relief scheme for 2023-24.
The scheme aims to offer a discount of 75 per cent on non-domestic rates bills to eligible businesses.
It will support those occupying premises and operating in the retail, leisure and hospitality sectors, such as shops, pubs and restaurants, gyms, performance venues and hotels.
Gareth Davies, Cabinet Member for Finance and Procurement told members the Welsh Government-funded scheme has a cap of £110,000 across all properties occupied by the same business.
He said 800 businesses in Ceredigion were expected to be able to take advantage, with an estimated total value of £3.6m.
All businesses are required to make a declaration that the amount of relief they are seeking across Wales does not exceed this cap, when applying to individual local authorities.
As the scheme is a temporary measure and the provision of the funding is discretionary, a decision to adopt the scheme in Ceredigion was required.
Cabinet members unanimously agreed to back adoption of the scheme.