AQW 50934/11-16

Ms Claire Sugden
Independent
East Londonderry

Tabled Date: 16/11/2015
Answered On Date: 26/11/2015
Priority Written: No

Question:
To ask the Minister of Finance and Personnel whether she will consider recalibrating the qualifying threshold for Small Business Rates Relief, following the revaluation of non-domestic rates from April 2015.

Answer:

I have no plans to recalibrate the scheme for those who fall outside the thresholds.

The NI Centre for Economic Policy (NICEP now UUCEP) in their evaluation of SBRR in 2014 recommended that the scheme should be retained in its current form for 2015/16, and that spend on the scheme should be capped. My predecessor extended the scheme for an additional year in its current form but did not favour capping the scheme which would have resulted in more ratepayers losing support. This contributed to a slight increase in the cost of the scheme this year in terms of revenue forgone.

NICEP also recommended that SBRR should be phased out as wider economic conditions improve. I am now working alongside the DSD Minister and DETI Minister, and am currently researching potential alternatives to the SBRR scheme to come into operation in line with any SBRR phase out.

While this research is being undertaken, subject to final Budget agreement, I am minded to continue the SBRR scheme for the 2016/17 year and would, subject to the final budget propose to take legislation through early in the New Year to extend the scheme.

I laid out the wide range of rate relief available to the non domestic sector, which includes those properties which may previously have been entitled for small business rate relief prior to April 2015 in my response to your AQW 50932/11-16.