News
Christmas leaves consumers strapped for cash
NEW research released this week shows that around 55 per cent of consumers in Wales ran out of disposable cash in January, after failing to budget for the Christmas and New Year festivities.
The average shopper in Wales overspent by £324.54 at Christmas, and more than two thirds (68 per cent) found the first month of the year a real struggle to get through financially, as they waited for their first 2014 wage packet to pay off credit cards, overdrafts and other festive bills.
The findings from The Co-operative Food coincide with the launch of the retailer’s 2014 Saving Stamps scheme, designed to help people to manage their budgets by saving a little each week throughout the year to help spread the cost of Christmas.
The community retailer saw sales of the £1 savings stamps soar by 40 per cent in 2013, as savvy shoppers reverted to the old-school way of saving. Commonplace in households in the sixties when budgets were notoriously tight, saving stamps were a popular way to put a little away each week.
As an extra incentive, customers redeeming a full saving stamps book with £48 worth of stamps in December receive £50, which means they receive a free £2 bonus for each full saving book redeemed in the run up to Christmas.
The Co-operative is the only retailer to provide extra security for its customers’ saving stamps, by protecting the money in a trust fund, which is managed by an independent trustee.
The Co-operative’s trust fund was set up in response to the collapse of the Farepak Christmas Club in 2006, when nearly 120,000 people, many from low-income households, lost on average £400 each. When establishing the trust, The Co-operative worked closely with representatives of the Farepak Victims Committee,Andrew Mann, Customer Director, The Co-operative Food, said: “As our research shows, many people were left with a financial hangover after overspending at Christmas and are still paying for the festivities.
“As a responsible retailer, we are keen to help our customers manage their budgets, and our saving stamps scheme is a simple and effective way to help put money aside throughout the year to help spread the cost of Christmas.”
He added: “Sales of saving stamps rose by 40 per cent in 2013, and we are expecting our saving scheme to be just as popular this year, as customers adopt a prudent approach to managing their money and start saving now January is out of the way.”
News
Visitor levy and accommodation register proposals to boost tourism
THE Welsh Government has announced plans to introduce new legislation to support the tourism industry and local communities across Wales. Two proposed Bills aim to give local authorities the power to introduce a visitor levy and create a national register for visitor accommodation.
The announcement, made by Finance Secretary Mark Drakeford and Economy Secretary Rebecca Evans, outlines a Visitor Accommodation (Register and Levy) Etc. (Wales) Bill set to be introduced to the Senedd on 25 November, pending approval.
Under the new proposal, local councils would have the authority to introduce a small levy for overnight stays in visitor accommodations, generating additional funds to support sustainable tourism initiatives. Each local authority would decide on the levy based on local needs, potentially easing the burden on resources in popular tourist areas.
Finance Secretary Mark Drakeford said that the levy would be “a small charge,” intended to help councils manage the impacts of tourism and invest in community infrastructure. “This will support the long-term sustainability of our tourism industry,” he added, emphasising that the approach is in line with the Welsh Government’s commitment to collaborative tax development.
Consultations led by the Welsh Revenue Authority highlighted the importance of a registration system to support the proposed levy. Feedback from stakeholders led to the decision to include a national register of all visitor accommodation providers in Wales as part of the Bill, aimed at ensuring quality standards across the sector.
In addition to the visitor levy, the Welsh Government previously consulted on a licensing scheme for visitor accommodation to create a fair playing field for providers and ensure visitors receive high-standard services. The proposed registration scheme within the Bill marks a first step toward this broader licensing framework.
The second phase of the initiative will involve a separate Bill aimed at establishing a statutory licensing scheme for visitor accommodations. This would allow providers to demonstrate compliance with certain conditions, enhancing transparency and standards. Welsh Government representatives confirmed they would continue discussions with tourism stakeholders, accommodation providers, and local authorities as the proposals progress.
If approved, the Bills will mark a significant shift in how Wales manages its tourism sector, balancing visitor demand with community needs and sustainable practices.
Business
Small business briefing hosted by Local MS
A BRIEFING event which considered how to best support small businesses in Wales has been hosted by Preseli Pembrokeshire Senedd Member Paul Davies. Mr Davies hosted the event in partnership with the Development Bank of Wales, Economic Intelligence Wales and the Federation of Small Businesses (FSB) Wales at the Norwegian Church in Cardiff Bay. The theme of the event was ‘productivity’, given that Wales has had a persistent productivity gap with the UK as a whole and with other international competitor regions.
Mr Davies said, “It’s always a pleasure to help facilitate discussions on how we can support small businesses across Wales. 99.3% of businesses in Wales are small or medium enterprises (SMEs) and it’s important for us to explore the opportunities there are to boost SME growth.”
“Business-friendly policies are needed to address Wales’s persistent productivity gap, and we heard from the speakers today that more support is needed in areas like skills development, infrastructure enhancements and planning.”
“As I’ve said before, the Welsh Government has some significant economic levers, and it must now use those levers to create conditions for growth in Wales. We know that when small businesses thrive, they create jobs, spread prosperity and keep our communities vibrant and it’s crucial that governments at all levels do more to support our small businesses and enable them to grow.”
Business
Bristol Trader to temporarily serve menu at the Castle Hotel
The team of a popular riverside pub in Pembrokeshire, devastated by a recent fire, will relocate to a new town centre location while repair work is carried out on the original site.
On Wednesday, 6 November, a fire broke out at The Bristol Trader, situated on Haverfordwest’s riverside, causing significant damage to the building. The fire affected two floors of the pub as well as the roof space, forcing its closure. Smoke from the blaze was visible across the town as firefighters from Haverfordwest and Milford Haven worked for two hours to extinguish the flames.
Following the incident, the pub’s owners expressed their sadness, describing the team as “absolutely heartbroken” but determined to reopen and come back stronger. They extended their gratitude to the regulars, locals, friends, and family who have offered their support during this difficult time.
In the meantime, The Bristol Trader team will continue operating from an alternative venue. Beginning Monday, 18 November, the pub will relocate to the restaurant of the Castle Hotel, located on Haverfordwest Square, where they’ll serve the same menu.
“While repairs are being made to The Bristol Trader, Team Trader are being temporarily relocated to The Castle Hotel Restaurant from Monday the 18th of November,” announced the team in a social media post. “All our menus are attached to our Facebook page, and the phone lines are being redirected.”
Anyone with a booking at The Bristol Trader who hasn’t been in touch since the fire on 6 November is encouraged to contact the team at 01437 762122.
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