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Economic Development

Welsh Government defends business support in Wales - while new funding will 'keep eye' on third wave

The Government in Wales has come under fire this week for its latest funding package for companies

Welsh Government defends support for businesses

Welsh Government has defended its support for businesses in Wales after criticism that the latest money was not matching re-start grants in England.

The new Government in Cardiff Bay has come under fire this week after releasing details on how much businesses would receive in the latest package.

It ranges from £2.500 to £15,000 for hospitality businesses able to open this month - while there is up to £25,000 for those companies having to stay shut.

In England the re-start packages for this sector range from £8,000 to £18,000. Meanwhile non-essential retail is not included in the latest package but firms in England will receive between £2,600 and £6,000.

There have also been concerns that the eligibility criteria in Wales could see some firms miss out and that money will not be paid until well into the summer.

However Welsh Government officials said that funding should be taken on an "accumulative basis" and they say that since December 1 businesses in hospitality in Wales have received more than in England - with a sizeable gap in support for firms with over 10 employees.

They said: "The latest support should not be looked be looked at in isolation."

They added that in retail, support roughly matched that over the border since December and that Wales now has 12 months complete rates relief for retail, leisure and tourism in 2021/22 - while firms in England will start paying partial rates in July.