Agenda item

The Presiding Member invited the Leader to present the final report which dealt with the legislative requirement for Council to formerly adopt the Welsh Government’s Retail, Leisure, and Hospitality Rate relief scheme for 2024-25.

This scheme was fully funded by Welsh Government and provided a 40% reduction in business rates due by businesses that met the criteria set by Welsh Government.  This scheme was set out in Part A of the report.

The report also included a proposal to extend the Newport City Centre Local Rate Relief Scheme for one year.

Initially, the scheme was introduced in April 2022 and was intended to conclude on 31 March 2024.

This is a local scheme which was fully funded by the Council and provided additional financial support in the form of a 25% rate reduction for City Centre businesses that operated in the retail, Leisure, and hospitality sectors.

The Newport City Centre Local Rate Relief Scheme that Council was considering extending was unique to the City Centre.

This innovative scheme was designed to assist existing businesses to remain viable and also incentivised new businesses to open in empty city centre retail units.

To date, the scheme has helped more than 100 businesses, and provided additional financial assistance to city centre businesses.

Due to the fact that there was less expenditure to date than anticipated, it is possible to fund the proposed extension to the scheme from unspent funds originally set aside for this purpose.

Councillor Davies seconded the report.

Comments of Councillors:

§  Councillor Fouweather said that this was good news, but the results would be reflected in how many businesses would remain and thrive as well as how many new businesses this would attract to the city centre.

§  Councillor Thomas welcomed the report and considered that all measures within the report supported new and existing businesses.

§  Councillor Horton felt that this support for businesses was helpful. He therefore supported the report and felt that individuals should actively support Newport by spending within the city.

§  Councillor Bright referred to the Corn Exchange, a brand-new venture opening this weekend with a capacity for 500 people to come into the city centre and therefore welcomed the report.

The report was unanimously supported.

It was therefore Resolved:

That the Council –

a)     Adopts the Welsh Government’s Retail, Leisure and Hospitality Rate Relief Scheme 2024-25 as set out in this report and in Appendix 1 thereto.

b)     Extends the Newport City Centre Local Rate Relief Scheme so that the scheme, as described in the report and in Appendix 2 thereof, operated during the 2024-25 financial year; AND

c)      Delegates to the Head of Finance the authority to take such decisions as may become necessary to enable the operation of both schemes, including but not limited to:

i.      the setting-up and operation of an appropriate application procedure.

ii.    the power to determine whether or not an individual application was within the scope of the scheme; AND

iii.   the power to revoke a grant of relief in circumstances where an applicant no longer qualified for such relief according to the scheme.