“Huge numbers” of small family-run holiday lettings businesses in Wales are selling up because of new restrictions and large tax hikes.
New legislation means Welsh local authorities can charge a premium - an amount on top of council tax - of up to 300 per cent.
The move - part of a deal between Labour and Welsh nationalist party Plaid Cymru - also means rules on self-catering homes being liable for business rates rather than council tax are tighter with properties now being let for at least 182 days a year to qualify, instead of 70 as before.
Mark Isherwood, a Conservative Member of the Welsh Parliament, is reported by the BBC as saying that he had been contacted by "huge numbers of constituents" running "legitimate self-catering businesses".
Among them were a couple whose holiday let is attached to their own home, and they were now selling the whole property. He says: "They're heartbroken. They talk about mental health issues, sleeplessness, financial consequences … We're talking about real, indigenous businesses that are central to local tourism economies, potentially having their hearts ripped out of them."
Plaid Cymru housing spokesperson Mabon ap Gwynfor is quoted by the BBC as saying: "For too long we've seen communities dwindling because of the increase in holiday lets and second homes. Closing the tax loophole helps to ease this problem and give people the opportunity to live near their families and keep communities alive.
"If some owners decide that the best course of action is to lease the property as a permanent rental property then that will be a net positive because it will bring more properties back into the housing stock."
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My agent in Wales tells me this is happening. Many holiday rentals selling up but some ex holiday rentals now moving to the PRS, but not enought to cover the number of landlords quitting and selling up. Win win for the Drakeford walking disaster, fewer homes to rent and fewer holiday lets. So 2 important property industries fading away, job well done by the Sennedd clowns.
My observation is that It's gov policy to drive out small businesses. Make way for pals in big business. I suspect they are very happy to see small businesses closing as they don't view them as businesses at all. It's easier to manage just a few large businesses than thousands of small businesses.
Socialist parties hate the self employed and small business, so that's it when labour get in next year
Andrew, there is no guarantee they will get in. General elections and polls are two different things. If enough people have the courage of their convictions we could end up with a REFORM PARTY UK government and they could not be worse than the Labour/Tory mob.
So now there is fewer holiday homes that means fewer tourists staying locally. Let’s watch the unemployment numbers climb now too, homeless and unemployed.
The Politburo down at The Bay are not interested in looking after businesses, they are interested only in raising revenue for their lunatic schemes.
Unfortunately, I can see that a Labour Government in Westminster, under current circumstances is inevitable.
I just can't see the Reform Party having any impact to be honest and they will only result in splitting the vote and giving Labour an even bigger majority.
The Tories are done and there is no real alternative other than the Reform Party, but I just can't see their getting any meaningful support, unfortunately.
However, here in Wales, we have our own little Communist enclave and no doubt the numpties here will just vote for more of the same, because their ancestors always voted Labour.
Bring out the donkey with the red rosette and they will vote for it.
Expect this in ENGLAND if you're stupid enough to vote Labour.
Or stupid enough to vote for the pseudo Tories. Both as bad as each other.
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