wsi/2023/72 — <div xmlns="http://www.w3.org/1999/xhtml"> <span xml:lang="en">The Non-Domestic Rating (Multiplier) (Wales) Regulations 2023</span> / <span xml:lang="cy">Rheoliadau Ardrethu Annomestig (Lluosydd) (Cymru) 2023</span> </div>

2023 No. 72 (W. 13) Rating And Valuation, Wales The Non-Domestic Rating (Multiplier) (Wales) Regulations 2023 Approved by Senedd Cymru on 28 February 2023 Made 24 January 2023 Laid before Senedd Cymru 26 January 2023 Coming into force in accordance with regulation 1(2) The Welsh Ministers make these Regulations in exercise of the powers conferred on them by paragraph 5(13A) of Schedule 7 to the Local Government Finance Act 1988 . Title, commencement and interpretation 1 1 The title of these Regulations is the Non-Domestic Rating (Multiplier) (Wales) Regulations 2023. 2 These Regulations come into force on the day after the day on which they are approved by a resolution of Senedd Cymru (provided that the approval of these Regulations is given before the approval by Senedd Cymru of the local government finance report for the financial year beginning on 1 April 2023, or before 1 March 2023, whichever is earlier). 3 In these Regulations, “ the 1988 Act ” means the Local Government Finance Act 1988. Change to the non-domestic rating multiplier for the financial year beginning on 1 April 2023 2 For the financial year beginning on 1 April 2023— a paragraph 5(5A)(a) of Schedule 7 to the 1988 Act does not apply; b for the purpose of paragraph 4B of Schedule 7 to the 1988 Act, B is specified as 113.9. Rebecca Evans Minister for Finance and Local Government, one of the Welsh Ministers 24 January 2023 EXPLANATORY NOTE (This note is not part of the Regulations) In relation to Wales, the non-domestic rating multiplier is calculated in accordance with the formula in paragraph 4B of Schedule 7 to the Local Government Finance Act 1988 (“ the 1988 Act ”) for a financial year at the beginning of which new rating lists must be compiled. New rating lists are being compiled for the financial year beginning on 1 April 2023 (“the year concerned”). The formula in paragraph 4B of Schedule 7 to the 1988 Act includes items B and C. Item B is the consumer prices index for September of the financial year preceding the year concerned, and item C is the consumer prices index for September of the financial year which precedes that preceding the year concerned. Paragraph 5(13A) of Schedule 7 to the 1988 Act enables the Welsh Ministers to make regulations to amend, repeal or disapply certain sub-paragraphs in Schedule 7 to the 1988 Act, so as to substitute references to the consumer prices index to another index, or to specify or describe a figure for item B and/or C. These Regulations apply to the financial year beginning on 1 April 2023, and disapply paragraph 5(5A)(a) of Schedule 7 to the 1988 Act. These Regulations also specify that the figure for item B is 113.9. This has the effect of the non-domestic rating multiplier remaining as the same figure as that calculated for the financial years beginning on 1 April 2020, 1 April 2021 and 1 April 2022. In accordance with paragraph 5(13C) of Schedule 7 to the 1988 Act, these Regulations will only come into force if they are approved by a resolution of Senedd Cymru before Senedd Cymru approves the local government finance report for the financial year beginning on 1 April 2023, or before 1 March 2023 (whichever is earlier). The Welsh Ministers’ Code of Practice on the carrying out of Regulatory Impact Assessments was considered in relation to these Regulations. As a result, a regulatory impact assessment has been prepared as to the likely costs and benefits of complying with these Regulations. A copy can be obtained from the Local Government Finance Reform Division, Welsh Government, Cathays Park, Cardiff, CF10 3NQ.