AQW 4589/17-22

Mr Andrew Muir
Alliance Party
North Down

Tabled Date: 05/06/2020
Answered On Date: 12/06/2020
Priority Written: No

Question:
To ask the Minister of Finance for an update on the outcome of the Review of the Non-Domestic Rating System.

Answer:

Significant progress continues to be made on key matters raised in the business rates public consultation. The overall high level of business rates was a major concern and in response I reduced the Regional Rate by 18%. I also extended the Small Business Rate Relief scheme and I am re-introducing the Rural ATM scheme, both as a result of positive feedback. As a result of the consultation I decided to re-introduce the Back in Business scheme; however, this has been superseded by my decision that all retail properties will receive 100% rate relief for this rating year.

The Review needs to be considered in the context of a completely different set of circumstances and in the light of £313m additional rate relief in this financial year.