BUSINESS rates in Wales will not be subject to an inflationary increase in 2021-22 Finance Minister Rebecca Evans has confirmed today.
Freezing the multiplier next year will help support around 54,000 ratepayers across Wales, who are not already receiving 100% rates relief. This takes the total amount of savings businesses have received on their rates bills to more than £90 million from 2018 to 2019.
Earlier this year the Welsh Government also announced a rates relief package worth £580 million to provide businesses with the support they needed to survive the pandemic.
Finance Minister Rebecca Evans said: “We recognise the pressures that businesses are facing and we are continuing to explore the support measures we can put in place to help businesses cope with the economic impact of the coronavirus pandemic and the end of the EU transition period.
“The announcement I have made today provides businesses with the reassurance that they will not see an increase in their business rates liabilities next year.”
The Conservatives’ Shadow Minister for Finance – reacted to the announcement.Nick Ramsay MS said: “The continuing health emergency produced by the Covid pandemic remains grave, yet the economic emergency we’re going through is still bringing about a different, but equally devastating effect.
“The announcement is, therefore, welcome but doesn’t go far enough.
“Welsh Conservatives outlined earlier this year our vision of how to rebuild the economy, which will require the next Welsh Government to utilise tax powers in innovative ways.
“We have pledged to create ‘Business Rate-Free Zones’, where all businesses would be free from paying business rates for up to three years, and to scrap business rates for all businesses with a rateable value of under £15,000 outside of these zones.
“Sure, the business-rates freeze from the Finance Minister is a step in the right direction, but I – and undoubtedly many businesspeople – am left feeling no real sense of assurance from her announcement.”
Family of property developers sentenced for fifteen counts of fraud
Four property developers were sentenced on Friday (October 15) at Swansea Crown Court to two years imprisonment suspended for 12 months each for multiple counts of mortgage and investment fraud worth over £1m.
Audrey Osborne, 65, and her sons Gary Moore, 43, Clayton Moore, 46 and Ian Moore, 44 pleaded guilty to fifteen counts of fraud, including conspiracy to commit fraud, obtaining money transfers by deception and fraud, following an investigation by South Wales Police Economic Unit.
Osborne ran a mortgage brokerage business, Credence Finance Limited operating all over Wales. This company was used as a vehicle to submit multiple false declarations of income in support of mortgage applications.
In addition to the mortgage frauds, the family secured a number of investors in Dreamscape Homes, including family friends, employees and Credence customers. The investors provided amounts of around £25k, some re-mortgaging their own homes to do so. They received Share Certificates in return. None of the investors received a return as the land was never developed.
John Sheehan of the CPS said: “Between them, Audrey Osborne and her sons committed 15 offences of dishonesty, misleading mortgage providers and betraying the trust placed in them by friends, employees and customers. They did so for their own personal benefit and only admitted their wrongdoing late in the proceedings.
“The CPS will now pursue confiscation proceedings against them to ensure they have not benefitted from their criminal conduct and, if possible, to compensate the victims.”
The CPS is committed to working alongside the government and law enforcement to provide a multi-agency response to combat all types of fraud.
Specialist Fraud Prosecutors work to seek justice in a variety of cases including those that cause the greatest harm to the public, particularly involving vulnerable victims.
The prosecution of the case was led by the CPS Specialist Fraud Division, a dedicated CPS team playing a leading role in the fight against serious and complex economic crime and the financial exploitation of the public, using specialist legal expertise to deliver justice.
The full sentences imposed at Swansea Crown Court are as follows:
Audrey Osborne was sentenced to two years imprisonment suspended for 12 months.
Gary Moore was sentenced to two years imprisonment suspended for 12 months.
Clayton Moore sentenced to two years imprisonment suspended for 12 months.
Ian Moore was sentenced to two years imprisonment suspended for 12 months.
University to host industry summit online
SUPPORTING industry’s recovery from the impact of the pandemic is a key priority for the University of Wales Trinity Saint David (UWTSD).
The University has a track record for working with industry through knowledge transfer, research innovation, workforce development and by providing a ready pipeline of skilled students and graduates, in partnership with employers.
In addition, UWTSD’s MADE Cymru initiative was established to support manufacturing industries in Wales to adapt to the challenges of Industry 4.0.
The initiative, funded by the EU via the Welsh Government, aims to support the economic recovery of manufacturers in Wales by offering part and fully funded training to businesses to upskill staff, as well as research and development that improves processes and products to reduce waste and costs.
In addition, UWTSD and MADE Cymru have organised an Industry Summit to be held online between June 8-10 to inform, engage and inspire businesses during this critical period of post-Covid recovery.
Expert speakers will be sharing their insights including James Davies from Industry Wales, Carol Hall, Regional Investment Manager, Development Bank of Wales, Chris Probert, Innovation Specialist, Welsh Government and Geraint Jones, Knowledge Transfer Adviser at KTN.
The line-up also includes Welsh manufacturers who will be sharing their own experiences, including Tim Hawkins, Managing Director, Markes International, Julia Chesney-Roberts, Commercial Manager, Riversimple, Angus Grahame, Founder of Splosh and Jacques Bonfrer, Co-Founder and Team Lead, Bot-Hive.
There will be guest talks from circular economy expert Eoin Bailey and lean author Daryl Powell and an opportunity to find out about the range of services offered by the University.
Graham Howe, Executive Head of the MADE Cymru project at UWTSD says: “This Industry Summit aims to explore issues and challenges facing manufacturing in Wales so that we can work together with employers to find solutions.
“We always start with asking a manufacturer what their biggest problem is today and look at how we can help them with it.
“We aim to unravel potentially confusing challenges like these. Our approach begins by looking at what companies need to increase their productivity and competitiveness.
“We aim to lead the businesses we work with through a journey of continuous improvement – a journey that makes the most of Industry 4.0 technologies and their ever-growing digital capabilities to help solve the specific problems faced by each company.
“All of the feedback we receive from businesses shapes our curriculum – we want to produce employable, digitally literate graduates who can contribute to their workplace from day one”.
Alison Orrells is CEO and Managing Director of Safety Letterbox and has been one of the organisations participating in the MADE Cymru initiative.
She said: “It was important to keep innovating and investing to set us apart and come out stronger. It’s been intense but we had a game plan – now it is all about business future-proofing, being agile, collaborations and being adaptable.”
Covid-19 has affected every part of a business and shifted the focus from production to survival.
UWTSD recently led a round table discussion with Welsh manufacturers about the future of manufacturing in Wales.
That discussion found that their outlook is positive about the future.
Manufacturers accelerated their adoption of new technologies to enhance and optimise production.
With many employees on furlough, managers took the opportunity to rethink and invest in better IT, particularly communications, training and diversified into new product areas. They looked to local colleges and universities to help shift perceptions of jobs in manufacturing and demonstrated the career opportunities and pathways available.
They also loosened their reliance on overseas imports and looked for suppliers in the UK to minimise future risk of disruption.
All sessions of the Industry Summit are free to attend and places can be booked on the UWTSD website: https://uwtsd.ac.uk/made/made-cymru-industry-summit/
Casual and part-time workers: Most vulnerable to job loss
A NEW series of reports that focus on the effects of Coronavirus on employment in Wales was published on Thursday, May 27, by Public Health Wales.
Young people, and those in precarious work have been identified as being especially vulnerable to employment changes caused by the pandemic, with mental wellbeing and struggles to find or keep work cited as major concerns.
Many young people are unaware of the support that is already available and how to access it, suggesting a greater need for organisations to engage with young people on a deeper level, to find solutions to the barriers they face for gaining good, fair employment –critical for people’s good health and wellbeing.
FURLOUGH HAD UNEQUAL IMPACT
Dr Benjamin Gray, Public Health Researcher at Public Health Wales, said: “18-29-year-olds are the age group with the highest proportion placed on furlough (41%) and 2.5 times more likely to have been placed on furlough than the 40-49 years age group and as such risk an uncertain future. Furlough could potentially mask a longer-term impact of Covid-19 on unemployment, and this is a concern, especially amongst this age group.”
Dr Ciarán Humphreys, Consultant in Public Health with the Wider Determinants of Health Unit at Public Health Wales, said: “Young people have told us they have been hit by a multitude of factors that will potentially have long-lasting effects on their employment prospects.
“It’s not just about being in work, though. It is the nature, quality, and long-term prospects of that work – good, fair work, that’s so important for people’s health. We saw this impact play out in the study.
“Some working young people we heard from struggled with the impacts of work changes outside their control on their mental wellbeing, whereas most of those in stable employment generally felt well, supported by their employer, and confident about the future.
“We know that at UK, Wales and local levels there have been important actions taken to mitigate the impact of these employment changes. However, some of these are expected to come to an end.
“A clear message from our work is that it will take a range of approaches to support young people responding to the employment challenges of the pandemic, to improve health.
“Action can be taken at national, regional and local level. Employers, too, have an important role in helping young people into good quality work, and that includes public sector organisations.
“If we are to safeguard future health we will need to work collaboratively and effectively, involving young people.”
The reports are the first in a series of planned employment analysis by the Public Health Wales Population Health programme exploring the impact of Coronavirus on the Welsh labour market and will help inform policy and decision-makers.
Further phases of the research will look at how challenges could be addressed as the economy reopens and recovers, so that those most at risk of longer-term harm from the crisis can secure decent quality future employment, training, and education.
Key findings across the reports were:
• Around a quarter of a million workers were employed in shutdown sectors in Wales (18 per cent of all workers) at the outset of the pandemic with young workers (aged 16-24) much more likely to be employed in shutdown sectors (36 per cent compared to 11 per cent of those aged 35-64).
• Young people faced varied and complex challenges due to the pandemic. In addition to the challenge in gaining, retaining, and partaking in good, fair work, issues raised included the effects of the temporary lockdown, such as disruption of vocational learning and home-schooling, or exacerbation of pre-existing issues such as the nature of employment for young people, Brexit and reported lower uptake of universal credit.
• Those who work in low-paid, insecure work have less protection and rights due to the ‘flexible’ nature of their jobs. Young people are chief among these due to the specific sectoral trends in employment contract types. These employment changes have also translated into significantly different impacts for distinct groups, with those living in deprived areas of Wales appearing to have fared worst.
• There is substantial uncertainty about the future, especially when government schemes such as furlough come to an end as these cushioned the economic pain caused by the pandemic.
• Young people have been disproportionately affected by the pandemic and are likely to feel the effects for some time with concerns over scarring effects on job prospects and the potential for higher tax in the future to pay for the financial support schemes introduced by the Government during the pandemic.
• While interventions are perceived by decision-makers and influencers to be available, apart from the furlough scheme, young people in this study did not, on the whole, appear familiar with them or accessing the support.
• It will be critical to ensure young people are involved in the development of future support.
• Evidence suggests that labour market policies can substantially impact the health of both the employed and unemployed populations in a positive way.
• A range of policies are linked with improved mental and physical health outcomes, as well as reduced health inequalities; however, some, such as benefit sanctions, have been linked to either no health benefit or even harm.
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