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| Business rates: Give Wales control, report likely to urge | Business rates: Give Wales control, report likely to urge |
| (about 2 hours later) | |
| Full control over business rates should be passed to the Welsh government as a way to boost the economy, a report is expected to urge. | Full control over business rates should be passed to the Welsh government as a way to boost the economy, a report is expected to urge. |
| There are also calls for councils to keep income earned in their area as an incentive to grow their local economy. | There are also calls for councils to keep income earned in their area as an incentive to grow their local economy. |
| The Welsh government asked economist Professor Brian Morgan to look at how the complex regime of business rates can be reformed to help the economy. | The Welsh government asked economist Professor Brian Morgan to look at how the complex regime of business rates can be reformed to help the economy. |
| Enterprise Minister Edwina Hart is due to make a statement to AMs on Tuesday. | Enterprise Minister Edwina Hart is due to make a statement to AMs on Tuesday. |
| Prof Morgan, of Cardiff Metropolitan University, is likely to recommend that Wales gets much greater freedom to design a system of its own. | Prof Morgan, of Cardiff Metropolitan University, is likely to recommend that Wales gets much greater freedom to design a system of its own. |
| He has previously said control over business rates should be completely devolved to the Welsh government. | He has previously said control over business rates should be completely devolved to the Welsh government. |
| Business rates are a tax on non-domestic properties. The money is collected by local authorities and then redistributed among councils as part of their annual funding from the Welsh government. | Business rates are a tax on non-domestic properties. The money is collected by local authorities and then redistributed among councils as part of their annual funding from the Welsh government. |
| Evidence presented to Prof Morgan's review showed strong support for allowing councils to retain the proceeds of business rates. | Evidence presented to Prof Morgan's review showed strong support for allowing councils to retain the proceeds of business rates. |
| The employers' group CBI Wales said the current system offers local authorities no incentive to be "pro-growth". | The employers' group CBI Wales said the current system offers local authorities no incentive to be "pro-growth". |
| 'Raise threshold' | 'Raise threshold' |
| But there was overwhelming opposition to allowing neighbouring councils to set local rates. | But there was overwhelming opposition to allowing neighbouring councils to set local rates. |
| The amount businesses pay is decided by their rateable value, although some pay less under the small business rate relief scheme. | The amount businesses pay is decided by their rateable value, although some pay less under the small business rate relief scheme. |
| At present, businesses with a rateable value of less than £6,000 pay nothing, with further reductions available up to £12,000. The relief scheme is due to change in March next year. | At present, businesses with a rateable value of less than £6,000 pay nothing, with further reductions available up to £12,000. The relief scheme is due to change in March next year. |
| The review's call for evidence found support for rate relief, with many respondents saying the threshold should be raised. | The review's call for evidence found support for rate relief, with many respondents saying the threshold should be raised. |
| The Welsh Conservatives want businesses of up to £12,000 to be exempt, with relief tapered up to £15,000. | |
| Tory business spokesman Nick Ramsay said: "We have long called for far greater business rates relief and this remains the easiest way of getting money back to small businesses and aiding their development. | Tory business spokesman Nick Ramsay said: "We have long called for far greater business rates relief and this remains the easiest way of getting money back to small businesses and aiding their development. |
| "Private sector growth is the key to creating Welsh jobs and small businesses in particular deserve far more support from the government." | "Private sector growth is the key to creating Welsh jobs and small businesses in particular deserve far more support from the government." |