Small businesses are the lifeblood of our communities, driving local economies, creating jobs, and supporting families across Wales. They embody the entrepreneurial spirit that keeps our towns and villages thriving.
Regrettably, Labour’s decision to raise national insurance contributions for working people threatens to undermine this vital sector, leading to higher costs for consumers, fewer jobs, and reduced investment in our local economies.
In the Senedd this week (27/11/24), the Welsh Conservatives are bringing forward a Senedd motion to mark Small Business Saturday, but also calling on the Welsh Labour Government to reinstate business rates relief to 75% for the retail, hospitality and leisure sector to support small businesses and protect jobs.
Commenting ahead of the debate, Welsh Conservative Shadow Minister for Economy and Energy, Samuel Kurtz MS, said:
“Small businesses are the backbone of our communities, driving local economies and creating jobs. Labour’s national insurance hike risks harming this vital sector, increasing costs and reducing investment. It's a decision of economic self-harm.
“Ahead of Small Business Saturday, Welsh Conservatives propose reinstating 75% business rates relief for retail, hospitality, and leisure sectors, offering crucial support to help businesses grow, invest, and protect jobs. Let’s back our small businesses and keep them at the heart of our communities.”
The motion which will be debated this week reads:
To propose that the Senedd:
1. Notes that Small Business Saturday will take place on 7 December 2024.
2. Recognises the vital contribution that small businesses make in creating jobs, supporting our communities and developing local economies across Wales.
3. Believes that the UK Labour Government has broken a manifesto commitment by raising national insurance contributions and notes that the British Retail Consortium and 79 prominent retail leaders have indicated that the increase will lead to higher prices, job losses, and damage investment.
4. Calls on the Welsh Government to:
a) make urgent representations to the UK Government to reverse an increase in national insurance contributions; and
b) reinstate business rates relief to 75 per cent for the retail, hospitality and leisure sector to support small businesses and protect jobs.
