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23 Feb 2021

The report provides key insights into the social and economic contributions of the rural shop sector, including profiles of the entrepreneurs that run rural shops, the investments they make and...

18 Feb 2021

Leading industry bodies, including IRC members, have warned the Secretary of State that this notion puts the future of our town centres at serious risk

17 Feb 2021

The Scottish Government Finance Secretary plans to extend 100% business rates relief for all retailers to cover all of 2021/22

10 Feb 2021

Use this template to email your MP to help independent retailers survive the pandemic by delaying the return of business rates.

10 Feb 2021

Letter to Rishi Sunak signed by Tesco, B&Q, Waterstones, and members of the IRC, calls for the business rates system to be reformed to make it fairer for physical stores

9 Feb 2021

Legislation has been laid to increase the minimum amount that retailers must charge for a single use carrier bag from 5p to 10p from 30th April 2021

5 Feb 2021

Over 65 retail organisations, including many members of the IRC, have written to the Prime Minister raising concerns of increasing instances of violence and abuse against shopworkers

3 Feb 2021

Buy now pay later (BNPL) firms such as Klarna and Clearpay are to be regulated by the Financial Conduct Authority after a report warned of the risk of people running into "unseen debt".

28 Jan 2021

'Exceptional circumstances require an exceptional response'

21 Jan 2021

The call to regulate BNPL firms like Klarna, Laybuy and Clearpay is now supported by 70 MPs, with many arguing that the FCA review is too lengthy and could leave consumers drowning in debt

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Welsh Finance Minister Sets out 2021-22 Budget

Posted on in Business News , Cycles News , Political News

moneyWelsh Government Finance Minister Rebecca Evans MS has unveiled its ‘Protect, Build, Change' draft Budget for 2021/22.

In the first budget since the pandemic, the package delivers an extra £176 million for local government to support schools, social care and local services that have been critical to our response to the pandemic. The package includes a £10 million boost to the Social Care Grant, which now stands at £50 million, in recognition of the significant impact the pandemic has had on the sector.

Strategic spending plans included in the draft include investing in ‘Town Centre First' pilots to improve the diversity of services on high streets and £5m for a Town Centre Loans programme to support the conversion of properties into shops. A targeted tax reduction will also help businesses recovering from the worst of the pandemic. Most businesses purchasing non-residential properties costing less than £225,000 won't pay any Land Transaction Tax, as the threshold is raised by 50%.

£38m has also been allocated to support the transition towards electric vehicle charging. £77m has been allocated as part of an initial pandemic-response package to continue free school meal schemes and contract tracing.

Finance Minister Rebecca Evans said:

"As we plan for our first steps beyond the pandemic, this budget is designed to protect health and our economy, build a greener future and create change for a more prosperous, more equal, and a greener Wales.

Despite the most challenging circumstances we have ever faced as a government, I am proud to announce a budget that delivers on our values and provides sound foundations for the next administration.

While like for like funding per person in Wales remains below 2010 levels, our priorities will steer a course for stability, protecting what matters most and creating the change that is essential to a good recovery."

The Minister is expected to make an oral Statement on the draft Budget in the Senedd Cymru on 12th January 2021.

Draft Budget 2021 to 2022

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