THE revaluation of business rates across Wales is causing “considerable concern” for firms in Monmouth, an AM has said.

Nick Ramsay was speaking in the Senedd last Tuesday where he said many companies in his constituency had contacted him concerned their business rates were due to rocket from April next year.

Addressing First Minister Carwyn Jones the Conservative AM said: “Only this morning I’ve received an email from a business in Chepstow that is facing a potential doubling of its rates next year.

“This threatens the future viability of many of these businesses.

“Can you update us on your discussions with chambers of commerce across Wales and, indeed, other stakeholders and businesses, and tell us what you’re going to do to allay these concerns?

“I know you’re going to be making an announcement in due course about business rate relief.

“How will you tailor that to the needs of those businesses that are going to be worst affected by the revaluation?”

Mr Jones said businesses were currently being consulted over the changes, and responses to the consultation had come “almost entirely” from Monmouth and Cowbridge.

“Clearly, there is an issue there for businesses in those two towns,” he said.

“Those who have benefited tend to be silent on these issues.

“So, in examining the issues that they have raised, that will help us to put in place a transitional scheme that will be as effective as possible for those two towns.

“I’m not saying it only applies in those two towns, but the effect has been most marked there.

“Of course, it’s a matter for the Valuation Office Agency as to how these valuations take place, but we want to make sure that, by listening to businesses, we can get the right scheme in place for the transitional phase.”

Earlier this month Independent AM Nathan Gill said some small firms in Wales were “hanging on by their fingernails” following the revaluation.