{
  "url": "https://openlegislation.uk/non-domestic-rating-multiplier-wales-regulations-2023/note",
  "json_url": "https://openlegislation.uk/non-domestic-rating-multiplier-wales-regulations-2023/note.json",
  "legislation": "wsi/2023/72",
  "legislation_title": "The Non-Domestic Rating (Multiplier) (Wales) Regulations 2023",
  "legislation_url": "https://openlegislation.uk/non-domestic-rating-multiplier-wales-regulations-2023",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Regulations)\nIn 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”).\nThe 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.\nThese 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.\nIn 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).\nThe 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.",
  "extent": "E+W",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/wsi/2023/72/note",
    "retrieved_at": "2026-10-28T23:05:00.523472+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}