The Welsh Government has said it will act to back businesses in Wales as the coronavirus hits.
First Minister of Wales Mark Drakeford said yesterday: 鈥淎ll funding that comes to Wales as a result of the 海角视频 Government鈥檚 Budget announcement on non-domestic rates will be used to support Welsh businesses.
"We want to roll-out a support package as quickly as possible to help businesses deal with the impact of coronavirus.
鈥淧lans are under way, but confirmation from the 海角视频 Treasury is holding us back.鈥
Commenting on the news that the Welsh Government will extend the measures announced in the budget on coronavirus to Welsh businesses, Ben Francis, Federation of Small Businesses (FSB) Wales Policy Chair, said: 鈥淲e are pleased to welcome the news that Welsh Government has taken steps to protect the economy and provide a safety net for those businesses facing disruption from coronavirus with money from yesterday鈥檚 budget. It is important that businesses in Wales have the same level of support to those over the border.
鈥淲elsh Government has listened to the case made by FSB Wales in our letter to the First Minister earlier today as well as individual businesses across the country, and as with 海角视频 Government, has taken positive action to provide reassurance for those businesses facing significant uncertainty in the coming weeks.
鈥淲e鈥檝e heard from businesses in the tourism and hospitality sector who are already seeing a slow-down, as well as businesses with supply chains that are feeling the effects. We hope that by ensuring that there is support for these businesses that they can be somewhat protected from what we hope is a very temporary challenge.
鈥淲e look forward to more detail as to the level of support and to working with Ministers on this and other measures to support the economy as we move forward鈥
Earlier yesterday business leaders called on the Welsh Government to act to reassure businesses after the Budget.
Chancellor Rishi Sunak announced business rates will be scrapped for thousands of small businesses over the next year. However, this was a decision that will have an impact in England only, as the matter is devolved.
This led to leading businesses bodies in Wales calling for clarity from the Welsh Government.
The FSB Wales was one of those which wrote to the First Minister earlier yesterday. The FSB asked him to urgently confirm the support that Welsh Government will provide to businesses on coronavirus, and to follow suit on the package of support announced by the Chancellor in the 海角视频 budget.
Also earlier, Ian Price, CBI Wales director, said Welsh business needed 鈥渦rgent clarification鈥 from the Welsh Government on the support it aims to provide to help thousands of small businesses cope with the unprecedented challenges posed by Covid-19.
鈥淚n Wednesday鈥檚 Budget the Chancellor announced a range of business rates measures to support firms in England, measures currently not available to firms in Wales,鈥 Mr Price said.
鈥淲e strongly urge the Welsh Government to mirror these actions to support businesses, and their employees, as they navigate an increasingly unsettling and uncertain period.鈥
Robert Lloyd Griffiths, director of Institute of Directors Wales, also added earlier: 鈥淭he announcement from the Chancellor was welcomed by the IoD in relation to business rates and we are now looking to Welsh Government in clarifying this for Wales to enable the same level of support that businesses across country are benefiting from.鈥
