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News Release

Chris Sutton in JLL’s Cardiff office responds to today’s Autumn Statement

Cardiff, 23rd November 2016 – Chris Sutton, head of property consultancy JLL’s office in Wales, said:

“The Chancellor has announced measures to improve the roll-out of full fibre digital connections and create a ‘digital spine’ throughout the UK. This includes a new 100% business rates relief for new full-fibre infrastructure for a 5 year period from 1 April 2017. With business rates being devolved to Wales in April 2015, it is now a matter for Welsh Government to consider whether or not to replicate this measure in order to retain our attractiveness as a business location.

“The issue was raised by Welsh Government’s advisory group in November 2013 but not implemented. We now recommend that firm action is taken to introduce a comparable measure in Wales relating to digital infrastructure. In addition, Welsh Government should consider renewing the 18 month exemption for speculative development, which expired in September 2016, as this has a similar impact in terms of incentivising investment.

“In his Autumn Statement, Hammond made a commitment to maintain negotiations on the city deal in Swansea and the regional growth deal in North Wales, which is good news. However, there is still a long way to go before we see plans being delivered.”