AQW 14346/17-22

Ms Paula Bradshaw
Alliance Party
South Belfast

Tabled Date: 09/02/2021
Answered On Date: 18/02/2021
Priority Written: No

Question:
To ask the Minister of Finance what assessment has been made of the level of support given to local publishers of magazines throughout the pandemic.

Answer:

The Executive has implemented a range of financial support measures to assist businesses impacted by COVID-19. Of particular relevance is the 18% reduction in the Regional Rate, which resulted in a reduced business rates liability across the board in 2020/21. Local publishers of magazines, like other businesses received a minimum of a 4-month rates holiday from 1 April 2020 which effectively provides an additional 33% discount on business rates this year. Some premises also benefit from Small Business Rate Relief. In addition to this, industrial derating (which is an annual 70% rate relief) applies to commercial printing premises; I recently extended the full 12 months rates holiday to include industrially de-rated properties. Finally, COVID-19 business support grants were provided to support small businesses.