Welsh Government announce extra support for hospitality businesses
Finance secretary Mark Drakeford has announced that pubs, restaurants, cafes, bars and live music venues across Wales will benefit from additional business rates support.
According to the Welsh Government, around 4,400 hospitality businesses will be eligible for 15% relief on their rates bills in 2026-27, helping them through a period of rising costs and changing consumer habits.
It will also provide up to £8 million for the package, using funding from the UK Government and its own funds to extend the range of businesses helped in Wales.
Almost half of pubs in Wales already benefit from Small Business Rates Relief, and over a quarter pay no rates at all.
From April, the multiplier used to work out rates bills will also be reduced for the first time since 2010, and £116 million in transitional relief is being provided over two years to help businesses adjust to the revaluation.
Finance Secretary Mark Drakeford said:”Pubs, restaurants, cafes, bars, and live music venues are at the heart of communities across Wales. We know they are facing real pressures, from rising costs to changing consumer habits.
“This additional support will help around 4,400 businesses as they adapt to these challenges. We have extended this relief to restaurants and cafes, as well as pubs and live music venues, because in towns and high streets across Wales these businesses operate side by side, often in direct competition. It makes sense to support them equally.
“This builds on more than £1 billion in temporary rates relief we have provided since 2020, alongside our permanent reliefs worth £250 million every year. We will continue to stand behind the hospitality businesses that serve our communities.”
Eligible businesses will be able to apply for the relief through their local authority from April 2026.
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Anything to do with something happening in May ? For many business’s it’s a case of stable doors closing after the horse has bolted.
Presumably this is the consequentials from the support only just announced by the English administration. Sensibly it will be available to a wider range of hospitality businesses than just pubs.
very welcome I’m sure for a what has become a beleagured industry with so many factors risking it’s future, but Mark Drakeford could have implemented this much, much earlier rather than procrastinating and waiting for what our next door neighbours were going to do. Perhaps it is time to call “Last orders Ladies and Gentlemen” on Welsh Labour.
Too little to late for a lot of businesses the die is cast.