The decision means that, as for businesses in England, increases in business rates will be capped to two per cent. It will help Welsh pubs avoid £250,000 in tax on the previously proposed increases.
The BBPA has also welcomed the commitment from the Welsh Economy Minister, Edwina Hart, for the introduction of a fund to support small businesses affected by the revaluation delay to 2017.
“We welcome this decision by the Welsh Government as positive progress for pubs in Wales," said the BBPA's chief executive Brigid Simmonds. "The introduction of a fund to support small businesses affected by the delay to 2017 of the national revaluation is also welcome. However, pubs that feel they have a case for revaluation should still follow the appeals process."
The Better Rates for Pubs campaign, led by the BBPA, called for the extension of Small Business Rate Relief alongside measures to improve the flexibility of the rating system for pubs and the promotion of rural rate relief.
The BBPA is also preparing to contribute to the review, by Professor Brian Morgan, of the future of business rates in Wales when the powers are further devolved to the Welsh Government.