News
Welsh Government announces £200m support for small businesses in wake of coronavirus outbreak
THE WELSH GOVERNMENT has today announced a package of support worth more than £200m for small businesses to help them during the coronavirus outbreak.
Retail, leisure and hospitality businesses in Llanelli with a rateable value of £51,000 or less will receive 100% business rate relief and pubs with a rateable value of between £51,000 and £100,000 will receive a £5,000 reduction on their bill.
A further £100m will be available for a new grant scheme for small businesses Further details on this new grant scheme will be confirmed as soon as possible.
Welcoming this announcement, Lee Waters MS, said: “I’m pleased that the Welsh Labour Government is offering this package of support to businesses as part of their response to the Coronavirus outbreak.
“They are doing everything they can to support businesses to deal with the impact of coronavirus. My advice to all businesses is to use the help and advice that is available.
“Any business affected should contact the Business Wales telephone helpline on 03000 603000. They can help with practical advice – from staffing to financial planning as well as supply chain support.
“The Development Bank of Wales is also available to help – it has equity and loan funding it can make available immediately to small businesses to help them through the cash flow and other challenges they may face in next, difficult, few weeks and months. The Development Bank of Wales can be contacted on 0800 5874140.”
Finance Minister, Rebecca Evans AM, said: “We are allocating every penny of the funding we will be receiving as a consequence of the schemes the UK Government announced in England last week to support businesses in Wales.
“But I know that helping businesses with their rates bills will not be enough to protect them from the severe drop in custom many are experiencing as coronavirus cases increase.
“We will be calling on the UK Government to act quickly and decisively to provide a very significant support package for vulnerable businesses and their employees.”
Please find below links to current information issued that you may find useful for your business and continuity.
A number of announcements were made in the March 2020 Budget including financial support that businesses can expect to access:
https://www.gov.uk/government/news/coronavirus-covid-19-guidance-for-employees-employers-and-businesses
In terms of Department for Work and Pensions support for employers, here is a useful link (via GOV.UK): https://www.gov.uk/government/news/coronavirus-support-for-employees-benefit-claimants-and-businesses?utm_source=37472ed5-c0b4-4625-8801-549259dc908d&utm_medium=email&utm_campaign=govuk-notifications&utm_content=immediate
Further and complementary advice can also be found on the Business Wales Website: https://businesswales.gov.wales/coronavirus-advice
Visit Wales also provide some specific advice for tourism businesses regarding the situation. This can be found by following:
https://content.govdelivery.com/accounts/UKWALES/bulletins/280805d
We should all help protect ourselves and our communities by following Public Health Wales advice at: https://phw.nhs.wales/coronavirus
There is also updated information regarding the virus on the Welsh Government website. Please view: https://www.gov.uk/government/publications/coronavirus-action-plan
We are also starting to see banks such as Lloyds offering support via low interest loans sources. We will update this information as further opportunities come forward.
News
Man remanded in custody following alleged assault in town centre
A PEMBROKE man has been remanded in custody following an alleged assault against a woman in Pembroke town centre last Thursday.
Morgan Ralph, 38, is accused of assaulting a female, occasioning her actual bodily harm during the alleged altercation on March 14.
Ralph, who appeared before Haverfordwest magistrates on Tuesday morning via a video link from Swansea Prison, pleaded not guilty to the offence.
His solicitor Tom Lloyd, informed magistrates that Ralph was acting in self defence during the alleged incident.
The matter was adjourned to May 23 when Ralph, of St Oswalds, Main Street, Pembroke, will be tried before Haverfordwest magistrates.
He was remanded in custody.
News
Retaining wall collapse in Haverfordwest crushes van
A RETAINING wall at Spring Gardens Lane, behind the site of the former Pembroke House Hotel in Haverfordwest, has collapsed following a period of heavy rainfall, causing damage to vehicles parked in the vicinity.
The incident has left two vans damaged, one severely.
The collapse of the wall sent debris sprawling across the car park, illustrating the force of the collapse and the substantial volume of water contributing to the structural failure.
Witnesses described hearing a loud rumbling noise before discovering the aftermath of the collapse.
Fortunately, no injuries have been reported.
The collapse serves as a stark reminder of the challenges posed by heavy rainfall and the importance of maintaining and monitoring ageing infrastructure.
Business
People in Wales are worried about running out of money in retirement
FEAR of running out of money in retirement is rising among those in Wales with more than half (55%) concerned their savings will not last them through retirement, new research from Investec Wealth & Investment (UK) shows (please see the attached press release).
In general, women are more worried about running out of money compared to men. More than half (54%) of women surveyed are concerned about how long their money will last in retirement, compared to only 44% of men. Around 46% of men who are not worried about running out of money in retirement say it is because they have a final salary pension scheme – compared to just 38% of women who have this.
The study by Investec Wealth & Investment (UK), part of Rathbones Group, among people with stock market investments including pensions, paints a bleak picture – around 55% of those living in Wales are concerned they do not have enough money for retirement. This is similar to the UK average of 56%.
Women are more worried than men that they do not have enough money for retirement. Almost two thirds (61%) of women surveyed are concerned, with 18% of these very concerned they do not have enough money for retirement. This compares to just over half (53%) of men surveyed, with 14% of these very concerned they do not have enough money for retirement.
The Investec Wealth & Investment (UK) study shows that those living in Wales who have yet to retire are realistic about what will happen to their incomes in retirement – 64% expect their monthly incomes to drop on retirement and 36% did not know.
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