Latest from Business News Wales
Business News Wales
5 hours ago
- Sport
- Business News Wales
Wales to Benefit From £900m Investment for Major Sporting Events and Grassroots Sport
Villages, towns and cities across Wales and the UK at large are set to benefit from a 'transformational' investment of more than £900 million in sport. The funding will support a pipeline of major international events and deliver new grassroots facilities. The funding commitment, which was outlined in the Spending Review last week, has now been set out by Culture Secretary Lisa Nandy. It will see more than £500 million committed to supporting the delivery of a host of world class sporting events being held in Wales and around the UK over the coming years, including the first stages of the Tour de France in 2027, the European Athletics Championships 2026 and the men's UEFA EURO 2028 – alongside Ireland – for which Cardiff's National Stadium of Wales (Principality Stadium) is a host venue. These events are expected to deliver significant economic benefits, with EURO 2028 alone projected to generate up to £2.4 billion in socio-economic value across the UK. Work is also continuing with the Home Nation football associations, including the Welsh FA, and devolved administrations to develop the bid for the UK to host the Women's FIFA World Cup in 2035. In tandem at least £400 million will be invested in new and upgraded grassroots sport facilities that promote health, wellbeing and community cohesion. Work to remove the barriers to physical activity for under-represented groups, such as women and girls, people with disabilities, and ethnic minority communities will continue. Already, government funding has helped clubs to build new pitches and changing rooms, install floodlights, solar panels and goalposts; supporting a range of sports including football, rugby and others. Government funding has already seen £400,000 invested in a new artificial pitch at Abersychan Comprehensive School and a £220,000 upgrade of the grass pitch at Ruthin Town FC. Secretary of State for Culture, Media and Sport, Lisa Nandy, said: 'Sport tells our national story in a way few other things can – uniting communities, inspiring millions, and showcasing our nation on the global stage. 'This major backing for world-class events will drive economic growth across the country, delivering on our Plan for Change. Coupled with strong investment into grassroots sport, we're creating a complete pathway to allow the next generation of sporting heroes to train and take part in sport in communities across the UK. ' Secretary of State for Wales, Jo Stevens, said: 'The investment in sport is fantastic news and means that grassroots facilities all around Wales will be upgraded, expanded, and improved, helping more people get active and improve their wellbeing. 'The £500 million for sporting events will strengthen Wales and the UK's global reputation for excellence in staging major sporting events, hosting EURO 2028 in our National Stadium in Cardiff and a stage of the Tour de France in 2027.' Debbie Hewitt MBE, Chair of the UK and Ireland 2028 Board, said: 'We welcome today's announcement of significant investment in sport from the UK Government, which marks a major boost to the successful delivery of UEFA EURO 2028. This commitment will not only help us stage a world-class tournament but also ensure that communities across the UK feel long-lasting benefits – from enhanced grassroots facilities to stronger local economies. 'UEFA EURO 2028 is a once-in-a-generation opportunity and with this investment, we are better placed than ever to deliver an event with pride, purpose and impact.' Nick Webborn, Chair of UK Sport, said: 'We welcome the Government's ongoing commitment to hosting the Tour De France, Tour De France Femmes and Euro 2028. These events have huge potential to drive economic growth, bring people together and inspire the next generation in communities across the UK. 'We believe that live sport is a fundamental part of this country's social fabric. We are really excited to be working with the Government and support their commitment to secure the pipeline of big events beyond 2028 to ensure we can continue to reach, inspire and unite people in every corner of the country.'
Business News Wales
10 hours ago
- Automotive
- Business News Wales
EV Provider Wins Green Business Award at 2025 Wales Business Awards
Cardiff-based electric vehicle (EV) provider, FleetEV, has won the Green Business Award at the 2025 Wales Business Awards. Founded in 2021, FleetEV focuses on making the switch to EVs practical and efficient through comprehensive leasing, salary sacrifice, and fleet solutions tailored to diverse client needs, across public and private sectors. As the lead supplier on the Welsh Government Commercial Delivery (WGCD) framework for electric vehicle provision, FleetEV has delivered significant impact, saving the Welsh public sector over £1.2 million in the past year alone while pledging to generate £2.5 million in social value during 2024/25. The net zero business was recognised as the leading green business that adopted innovative and effective eco-friendly practices, leading to measurable reductions in their carbon output and a positive environmental and business impact. Jarrad Morris, Founder and CEO at FleetEV, said: 'We are incredibly proud to be recognised as Wales's leading green business. The Wales Business Awards highlight the best of Welsh business, and to be counted among them is an honour. 'From the outset, our mission has been to support businesses and public sector organisations in making the transition to electric vehicles as seamless and impactful as possible. We believe sustainability should never be a compromise – it should be an advantage. This award reinforces that belief and reflects the hard work of our team, the strength of our partnerships, and the trust our clients have placed in us. 'As we look ahead, we remain committed to delivering innovative, data-driven solutions that not only reduce emissions but also create measurable value, economically, environmentally, and socially. We're proud to be a green business, through and through, and this recognition is a milestone in our journey to help drive Wales toward a net zero future.' Gus Williams, Interim CEO at Chambers Wales South East, South West and Mid, said: 'Congratulations to FleetEV on winning the Green Business Award at this year's Wales Business Awards. In a highly competitive category filled with exceptional businesses, FleetEV stood out for their ambition, drive, rapid growth and success in a competitive market, but what really impressed us was their wider approach – the desire to have a positive impact with all their stakeholders, including their community work and support of local schools and sports, in particular.'
Business News Wales
10 hours ago
- Business
- Business News Wales
Menter Môn Pushes Ahead with Hydrogen Hub Development
Ambitions to establish a significant hydrogen production facility in North Wales have taken a step forward with the acquisition of additional land next to the Holyhead Hydrogen Hub site. As part of the region's transition to low-carbon energy and sustainable infrastructure, the extended site now covers 24 acres at Parc Cybi, Holyhead. The development includes two main sites, with planning permission already in place for a 1MW electrolyser on the original plot. The second is a much larger site, offering the potential to scale up hydrogen production significantly in the future. Part of this land is being actively considered for further development. However, the Hub developer, local social enterprise, Menter Môn stresses that this remains subject to planning approvals and stakeholder engagement. Graham Morley and Dafydd Gruffydd Graham Morley, Project Manager for the Menter Môn scheme, said: 'This is a key milestone for the future of clean energy in North Wales. Expanding the footprint of the Holyhead Hydrogen Hub gives us the opportunity to plan for a larger facility, potentially producing five to ten times more green hydrogen – which could power local transport, industry, and jobs for years to come.' Dafydd Gruffydd, Mangin Director at Menter Môn added: 'We're proud to be leading this project with our partners, but we're also mindful of the need to grow in a responsible, phased way. We're still in early stages with the newly secured land, and any development will be carefully planned and consulted on with the community and stakeholders.' As part of Menter Môn's energy portfolio of projects, the Hydrogen Hub is set to play a vital role in decarbonising transport and industry in north Wales, while supporting local economic growth and contributing to national net-zero targets. Menter Môn continues to work closely with government, industry, and community partners to ensure the hub delivers lasting impact.
Business News Wales
10 hours ago
- General
- Business News Wales
Deadline Nears for Welsh Charity Awards Nominations
The Welsh Charity Awards, organised by Wales Council for Voluntary Action (WCVA), are making a final call for nominations. The awards, which aim to shine a spotlight on the impact of charities, community groups, not-for-profits, and dedicated volunteers across Wales, close on June 30. 'We are fortunate enough at WCVA to regularly hear just some of the countless inspiring stories from every corner of Wales,' said WCVA Chief Executive, Dr Lindsay Cordery-Bruce. 'We're proud of our awesome everyday heroes, but many frontline charity services are facing increasingly high demand while at the same time financial pressures are putting them at risk of closure. We need to share their stories and show the world what they mean to people and how we simply can't do without them. 'These awards are a chance to recognise the tireless efforts and innovative approaches of those who go above and beyond to support others. We urge everyone to think about the individuals and groups who have made a real impact and give them the recognition they truly deserve before the nomination window closes.' The 2025 Welsh Charity Awards ceremony will be held on 16 October 2025 at the Principality Stadium in Cardiff. Categories include: Volunteer of the Year (26 and over) Young Volunteer of the Year (25 and under) Fundraiser of the Year Champion of Diversity Use of Welsh Language Most Influential Small Organisation Health and Wellbeing Organisation of the Year Submitting a nomination is free and can be done easily online via the Welsh Charity Awards website: . Full details on each category and the nomination process are available on the site.
Business News Wales
10 hours ago
- Business
- Business News Wales
Accountancy Body Responds to HMRC Consultation on Behavioural Penalties Reform
ACCA has called for HMRC to implement a system that supports compliant taxpayers while effectively targeting criminal abusers of the tax system. This is in response to HMRC's consultation on reforming behavioural penalties within the UK tax system. ACCA said it was its long-held view that simplicity, certainty, and stability are the three cornerstones of a good tax system. When taxpayers and their advisers are unclear of what is expected, distortions arise, creating the potential for both mistakes and deliberate rule breaking. ACCA is warning against designing a system primarily around the most serious offenders, recommending instead a more balanced approach that applies proportionate penalties and promotes voluntary compliance. Objectivity must be at the forefront of changes to penalty rates and those concerning escalation. ACCA recommends commissioning independent research to provide an objective starting point. Key suggestions include: Greater emphasis on the quality of information disclosure, including an individual's cooperativeness and timeframes in which information is supplied. Given the significant volume of data HMRC holds, 'prompted' and 'unprompted disclosure' seem less relevant in a digitalised environment. HMRC should incentivise good behaviour while ensuring that bad behaviour gets punished – however reduced penalty amounts for repeated bad behaviour could arguably be seen as rewarding bad behaviour. Changes to penalty rates should be grounded in independent research to ensure fairness and transparency. Penalties related to offshore tax non-compliance should be calibrated based on the taxpayer's intent and the degree of concealment involved. ACCA sees no evidential basis for the introduction of non-financial penalties. Given the existing powers already available to HMRC, not to mention the wider reform to the tax administration framework, this would be an impractical approach. Glenn Collins, head of technical and strategic engagement, ACCA, said: 'HMRC's reform efforts must ensure that penalties are fair, proportionate, and designed to encourage the right behaviours. The focus should be on simplicity, certainty and stability – both for taxpayers and the authorities, so that honest mistakes aren't punished. We support a system that promotes cooperation and voluntary disclosure, but which also includes robust responses to wilful non-compliance.' ACCA is keen to ensure that the tax system effectively caters for the majority of taxpayers who are honest and compliant. A survey by ACCA found that just 43% trusted their respective tax authorities, with 29% indicating that they either distrusted or highly distrusted them. Joe Fitzsimons, regional lead, policy and insights, ACCA, added: 'Objectivity must be at the forefront of changes to penalty rates and those concerning escalation. We are recommending commissioning independent research to provide an objective starting point. We believe it's essential the rules support those who want to get things right, not penalise them for navigating a complex system. Reforms should strike the right balance – targeting deliberate evasion while encouraging openness and early engagement from taxpayers.' ACCA's response also addresses HMRC's specific consultation questions, offering practical guidance on areas including penalty reductions, the appropriate rate of penalties, how offshore non-compliance should be treated, and the use of non-financial sanctions.
