Welcome to YoungNewport! Please sign up or login

Tesco Tax

Posted by Weekly update from Newport - Published on 06/04/2012 at 12:27
0 comments » - Tagged as Culture, People, Topical, Work & Training

  • Photo 1
  • Photo 3

As our economy in Britain has been officially in a recession and big brand stores such as Tesco saturate our local economies, is it wise to introduce a tax system on large organisations such as Tesco?

This week a new tax came into effect in Northern Ireland. It will tax large businesses through the revaluation of rates of companies that own land worth more than £500,000. There'll be exemptions and reductions for businesses reusing long-term vacant properties or for those willing to let shop-fonts and windows be used for non-commercial purposes.

Should a similar scheme be up and running in Wales? Well it will create jobs in the private sector that is urgently needed in Newport.

The company IKEA say that the Northern Ireland finance minister Sammy Wilson could be putting hundreds of jobs at risk. The reply of the minister was that "the levy is a significant milestone which will help people struggling in the harsh economic climate".

Should this tax be repeated in Wales?

Info  Money

Info  Employment & Training

Got something to say?

You must be logged in to post comments on this website.

Login or Register.

Please take a few minutes to complete this survey. It will help us find out how you use the website so we can keep improving it for you. Everyone who completes the survey will get the chance to win £50.