Welsh steel industry gets £20m windfall as Wales hands out business rate tax cut immediately
The battered Welsh steel industry is to be one of the biggest beneficiaries of the Welsh Assembly’s decision to pass on cuts to business rates immediately. It will enjoy a boost of almost £20million over the next five years.
By contrast, English businesses will have to wait for the reduction to be phased in over four years.
The contrast is starkest in the steel sector, where the huge plants attract high rates. The Port Talbot site in Wales, owned by Tata Steel and under the threat of closure, will enjoy a £1.7million-a-year cut to its rates bill from April.
The similar-sized Scunthorpe... read more
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