A PERMANENT scheme offering business rate discounts to small companies in Wales will be introduced in April, it has been announced.
The £110 million scheme will benefit smaller and independent companies by offering relief to businesses with a maximum of two locations per local authority area.
More support will also be offered to childcare providers and hydroelectric power projects and councils will also be given a share of £1.3 million in the next financial year to provided targeted rate relief.
Wales' finance secretary Mark Drakeford said the new scheme would "provide certainty and security for small businesses in Wales".
"In line with our tax principles, the permanent scheme will target support more effectively towards those businesses which will benefit most, supporting jobs and growth and delivering wider benefits for our local communities," he said.
"My intention is to take a progressive, fair and transparent approach towards local taxation in Wales, which continues to provide vital funding for local services.
"Delivering a permanent relief scheme for small businesses is a key step in delivering this."
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