Newport City Council is set to extend its city centre business rates support scheme for a further year, helping local businesses reduce costs while supporting the continued growth and vitality of the city centre.
The scheme provides eligible retail, hospitality and leisure businesses within the city centre with an additional 25 per cent reduction in their business rates bills until March 2027. The proposed extension would continue support that has been in place since 2022.
Business rates, also known as non domestic rates, are a tax paid by businesses and organisations that occupy shops, offices, restaurants and other commercial properties. A rate relief scheme reduces the amount businesses have to pay, helping them manage costs and invest more in their future.
Since the scheme was introduced, the number of businesses benefiting from it has increased year on year, with 126 businesses receiving support during 2025/26. It is the only scheme of its kind in Wales and operates in addition to support already available from the Welsh Government.
The scheme also complements the council’s city centre start up grants programme, helping bring vacant premises back into use and making Newport a more attractive place to do business.
Councillor Dimitri Batrouni, leader of Newport City Council, said: “Our city centre businesses continue to face pressures from rising costs, so we’re pleased to be able to propose extending this valuable support for another year.
“By reducing business rates bills, we’re helping businesses invest in their future, supporting jobs and encouraging more businesses to choose Newport city centre as a place to trade. This, alongside our other grants and offers of support will encourage a vibrant city centre which benefits everyone”.
The proposed extension will be considered by council members at their meeting on 21 July. If approved, the scheme will continue until 31 March 2027.
