I am delighted that the Chancellor, George Osborne, has decided to reintroduce Furnished Holiday Lettings tax allowances in the Budget.
The loss of these allowances, which were due to be scrapped by the previous Labour Government, could have had a devastating effect on thousands of self-catering operators in Wales. We fought against these proposals in the National Assembly but the Labour/Plaid administration failed to stop Labour’s proposal.
Massive concern was expressed to me last year by the Wales Association of Self-Catering Operators (WASCO) and many other small business owners regarding the repeal of the Furnished Holiday Letting Rules.
Labour’s highly damaging proposals were made without any consultation with self-catering operators and any study into the impact they would have on their businesses.
The tourism sector in Wales is vital to our economy and I am delighted this has been recognised by George Osborne in his budget.