HUNDREDS of thousands of non-domestic properties right across Wales – and elsewhere in the UK – are all liable for paying business rates.

But that’s where the similarity ends.

Because currently Welsh businesses pay the highest business rates (53.5p) in Great Britain, with all businesses here paying 4.5 per cent more than large businesses in England.

But the picture gets worse.

Wales is also the only UK nation to have imposed businesses with a standard rate pay, irrespective of size. Yet elsewhere in the UK the rate sensibly varies dependent on the size of a particular business.

What I’ve stated above isn’t political posturing – it’s a series of facts, all of which are extremely concerning.

And I’m not the only official to raise concerns of current problems facing rates in Wales; the FSB national chairman, Mike Cherry, warned that the current system is contributing to empty shops and causing job losses.

At present, Welsh businesses’ economic potential are being held back.

That’s why this week I led a debate in the Welsh Parliament, calling for businesses in Wales to have the ability to compete fairly with their counterparts across the UK.

Welsh Conservatives have long called for the cutting of business rates in order to allow businesses the opportunity to flourish and grow. Doing so will also provide more jobs for local people and more opportunities for our next generation.

At a time when businesses are already facing an unprecedented cost burden, inaction isn’t an option.

Therefore, the Welsh Government desperately needs to take immediate action to reduce non-domestic rates to support our economy.