AQW 11601/17-22

Mr Andrew Muir
Alliance Party
North Down

Tabled Date: 04/12/2020
Answered On Date: 15/12/2020
Priority Written: No

Question:
To ask the Minister of Finance whether he will consider introducing a scheme similar to Scotland’s Business Growth Accelerator, providing business-rate incentives for property improvements.

Answer:

The Scottish Business Growth Accelerator was considered by my Department in the context of last year’s Business Rates Review. One key issue to be measured in the context of incentivising improvement work is, of course, whether such work would have occurred without the provision. Since the Business Rates Review was conducted, policy making within the rate system has of necessity pivoted to the Covid-19 response, and to ensuring that the rating system does not exacerbate difficulties for businesses at this time.

As we start to emerge from the pandemic wider business rate incentives and the Business Rates Review will be revisited in that context. The Executive in the 2020-21 Budget already announced its intention to reinstate the Back in Business rates incentive for new occupiers (although this is not required at present due to the rates holiday) and I will be keen to explore other policy options both for wider changes to the system, and to secure a sustainable source of revenue for central and local government services.