Business
Senedd backs ‘bricks-and-mortar’ business rates revamp
THE SENEDD has rubber stamped plans to cut business rates for about 13,000 smaller high-street shops in Wales while raising the amount payable for higher-value properties.
Finance secretary Mark Drakeford brought forward regulations to adjust the multipliers for business rates – officially known as non-domestic rates – for the first time from April 2026.
The Welsh Government will introduce a lower multiplier – a key determinant of bills – for smaller shops, kiosks, pharmacies and post offices with a rateable value below £51,000.
To offset the revenue lost from “bricks-and-mortar” shops, a higher multiplier will apply to about 3,200 bigger properties with rateable values of more than £100,000.
The higher multiplier would not apply to properties occupied by the public sector, including hospitals, surgeries, schools, colleges, museums, universities, courts and police stations.
But a consultation document warned it would not be possible to exclude more generic property types, such as office buildings occupied by public services.

The value of the retail and higher multipliers will be set by ministers in separate regulations, taking into account a revaluation of non-domestic rates which is yet to be concluded.
In the Senedd today (November 4), Prof Drakeford said more than half of business rate payers in Wales already benefit from £250m in permanent reliefs.
He told the Senedd: “A lower retail multiplier will be introduced to rebalance the non-domestic rates system in favour of small-to-medium-sized shops.
“This reflects the unique challenges faced by bricks-and-mortar retail shops – not least through their exposure to competition from online retailers.”
Heledd Fychan, Plaid Cymru’s shadow finance secretary, agreed with the need to tailor multipliers to relieve the tax burden on smaller, domestic businesses. She encouraged ministers to go further by including restaurants and pubs in the lower multiplier.

Ms Fychan reiterated her party’s calls for a vacant land tax in an effort to revive high streets, with the UK Government so far resisting calls for further powers to do so.
Prof Drakeford agreed: “There will be scope to do more… in future. To be clear, what these regulations do is to lay the scope for the use of these powers for the next financial year.
“The choice in front of the Senedd is not between this or more extensive use of the powers – it’s between this and staying with the status quo and there will be no further opportunity to vote on wider use of these powers later in this Senedd term.”
Senedd Members unanimously backed the regulations.
Different systems already exist elsewhere in the UK.
In England, a lower multiplier applies to properties with rateable values under £51,000, and further lower multipliers for retail, leisure and hospitality properties are on the horizon.
According to the consultation document, the UK Government also plans to introduce a higher multiplier for properties with rateable values of £500,000 and above in 2026/27.
Scotland sets three differential multipliers and in Northern Ireland, a central rate is supplemented by a rate set by each district council.
Business
Why mental health support is now critical for Welsh businesses
MENTAL HEALTH support has become a key issue for businesses in Wales as employers face growing pressure to help staff manage financial strain, stress and wellbeing at work.
The issue is being highlighted during Mental Health Awareness Week, with new insight from Reed showing that support for employee wellbeing is now an important part of attracting and retaining staff.
Workers in Wales said they need an annual income of £42,000 to live comfortably, compared with an average regional salary of £36,000. That leaves a “comfort gap” of £6,000.
Reed’s latest salary guides also show that 71% of workers say pay has become more important since the cost-of-living crisis, with many employees feeling the pressure of rising everyday costs.
The strain is not only financial. Separate research shows almost one in four workers in Wales, 24%, say they have previously been formally diagnosed with a mental health condition — the highest reported proportion of any UK region.
Pay alone ‘not enough’
Becky Hole, Regional Director at Reed, said employers now needed to look beyond salary alone.
She said: “In Wales, financial pressure and mental health challenges are closely linked. Our data shows that many employees are placing greater importance on stability and support, particularly where salary growth is constrained.
“This means benefits that support work-life balance and mental wellbeing are becoming a much more important part of how valued people feel at work.
“Organisations that prioritise employee wellbeing also benefit in tangible ways. By providing stronger support for mental health, employers can lower staff turnover and reduce the long-term costs linked to ongoing recruitment and the loss of skilled, experienced employees.”
What workers want
WHEN asked what would help them manage stress, 35% of workers in Wales said they wanted more flexible working, 34% wanted better mental health training for managers, and 30% wanted clearer communication about support already available.
However, Reed said there remains a gap between what workers want and what they receive.
The most common benefits currently reported by workers in Wales are onsite parking, at 28%, flexi time, at 26%, and hybrid working, at 23%. Nearly one in five workers, 18%, said they receive no benefits at all.
Ms Hole added: “What this shows is a disconnect between what employees say would most help them manage stress and how clearly mental health support is currently embedded and communicated.
“However, Wales stands out when it comes to flexi time, with a higher proportion of employers offering this benefit compared to other regions — a positive step given its proven role in supporting employee wellbeing and work-life balance.
“Flexible working, open conversations about mental health and managers who are properly trained all come through strongly as priorities.
“Employers have a responsibility to look after their people, and those who want to help their workforce truly destress need to ensure their benefits are visible, accessible and actively support everyday mental resilience.”
Reed said businesses that take wellbeing seriously are more likely to retain skills, stability and trust over the long term.
Business
Pembroke Power Station National Grid power plans backed
A CALL to site specialist diesel generators at Pembroke Power Station to help keep the lights on in the event of a National Grid shutdown has been given the thumbs-up by county planners.
In a screening application to Pembrokeshire County Council, RWE Generation UK PLC, through Ove Arup & Partners Ltd, sought to site up to six containerised diesel generators, diesel storage tank(s) and electrical connections at Pembroke Power Station, Pwllcrochan, near Pembroke.

The application site is within the site of the existing Pembroke Power Station, a combined-cycle gas turbine (CCGT) station which began commercial operation in September 2012, with a gross consented capacity of about 2,199 megawatts electric (MWe), replacing the previous oil-fired power station which operated for almost 30 years and was decommissioned in 1999.
A supporting statement says, subject to confirmation, it is considered to comprise permitted development, the scheme “a standalone plant, with its own fuel supply, capable of starting up, operating and shutting down independently from the power station”.
It adds: “It is required only in an emergency to maintain plant status and keep the power station operationally ‘ready’ in the event of a total or partial shutdown of the National Grid system. It is not required for the normal operation of the power station and does not extend its capacity, which remains as already consented, therefore it is not considered a change or extension.”
On need, it says it is mandatory that all electricity generators of over a megawatt have to adopt a new minimum standard of asset resilience; power stations “must be capable of restoring demand on the National Grid electricity transmission system in the event of a total or partial shutdown of the National Grid system,” the Power Station not currently meeting this new asset resilience standard.
It says construction is hoped to start in July 2026, lasting approximately nine to 12 months, the main part across the summer months.
The application was considered by officers to fall under permitted development, saying it “does not require Environmental Impact Assessment because the development, including cumulatively with other development in the locality, is not likely to have significant effects on the environment”.
Business
MamGu Welshcakes earns B Corp certification
A WELSHCAKE maker from Wales has joined a global movement of businesses recognised for high standards of social and environmental responsibility.
MamGu Welshcakes has announced that it has become a Certified B Corporation, also known as a B Corp.
The certification, verified by B Lab, recognises companies which meet standards covering social and environmental performance, transparency and accountability.
The assessment looks at a company’s operations across areas including governance, workers, community, the environment and customers. Businesses must also legally embed a commitment to purpose as well as profit.
MamGu Welshcakes now joins more than 10,700 B Corps globally, including more than 2,700 in the UK. Well-known certified businesses include The Guardian, Innocent Drinks, Patagonia, The Big Issue, Finisterre, Elemis and Sipsmith Gin.
The company says it is only the 13th food and drink producer in Wales to receive B Corp certification.
Chris Turner, CEO of B Lab UK said: “We are pleased to have B Corps of all shapes and sizes as part of our community – from startups to multinationals and across many different industries.
“Business is a powerful force and B Corps demonstrate that positive impact is possible in any sector. Welcoming MamGu Welshcakes is an exciting moment for the food and drink industry.
“B Lab UK and the rest of the B Corp community are really pleased that MamGu Welshcakes is paving the way for a new way of doing things.”
Sam Swift, director of MamGu Welshcakes said: “From day one we have always strived to be a business rooted in the community and we’re over the moon to now achieve B Corp certification.
“It’s a clear and rigorous standard that holds us accountable for how we do business; from supporting our people and communities to reducing our environmental impact.”
He added: “B Corp is not just a badge and certainly not the finish line, in fact we see this moment as a new baseline for everything we do next.
“We’re already looking at ways we can be better at everything, from who we work with to the ingredients we use and where they come from.”
B Lab is a non-profit organisation which says it is working to transform the global economy to benefit people, communities and the planet.

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