Wales Monthly Update 1 December 2025 As December arrives and the year draws to a close, it’s the perfect time to reflect on recent progress and to look ahead to everything still to come before we step into 2026. This month’s Wales Monthly Update recaps November’s activity and highlights what’s on the horizon across Wales in December, keeping you informed and connected with all the latest updates!
Campaigning and Policy Activity As you will all be aware the Chancellor of the Exchequer delivered the UK Government’s Autumn Budget was announced on Wednesday 26th November. FSB UK’s response was mixed, noting that “The tax burden at a record high is the cost of failure to get growth and trim spending” and called on the UK Government to “follow this Budget through with serious, pro-growth measures that restore the confidence small businesses need to grow, invest and hire.” FSB Wales has given a mixed response to the UK Budget, welcoming major investments in Wales, including two AI Growth Zones (over 8,000 jobs) and Wylfa’s small modular reactors (already announced), but warned that UK-wide tax rises will add further pressure on small businesses already facing high costs. Head of FSB Wales, Joshua Miles, urged Welsh Government to use its extra £505m funding and new borrowing powers to cut business rates and boost infrastructure, particularly by matching the UK’s permanent lower tax rate for retail, hospitality and leisure properties. FSB Wales have also said: •
Welcomed the stability and £380m unallocated headroom in the 2026/27 Draft Budget but warned it risks a 40% rates hike for many firms by scrapping retail, hospitality and leisure relief.
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While support for Business Wales, skills, planning and creative industries is maintained, FSB said this is not enough. It urged cross-party talks to protect rates relief and deliver bolder measures so Wales’s 200,000+ small businesses, the backbone of the economy, can prosper and grow.
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FSB Wales hailed the UK Government’s decision to build the country’s first small modular reactors (SMRs) at Wylfa on Anglesey as a “once-in-a-generation” boost for North Wales.
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The £2.5bn project will create up to 3,000 jobs, power three million homes and deliver major supply-chain opportunities. Head of FSB Wales, Joshua Miles, said small local firms must be prioritised in procurement from day one to keep investment in Welsh communities. He also called for urgent upgrades to roads, rail and broadband, plus targeted training with local colleges, to maximise the lasting economic benefits for Ynys Môn and the wider region.