AQW 16973/17-22

Mr Andrew Muir
Alliance Party
North Down

Tabled Date: 26/03/2021
Answered On Date: 02/04/2021
Priority Written: No

Question:
To ask the Minister of Finance whether he will publish the details of his Department's most recent review of the non-domestic rating system.

Answer:

The review which commenced in May 2019 needs to be considered in the context of a completely different set of circumstances faced by our economy and business community, and also in the light of some £518 million of additional business rates support provided by the Executive in 2020-21 and now in 2021-22.

Significant progress has been made against issues raised in the public consultation. The overall high level of business rates was a major concern and in response I reduced the Regional Rate by 18% for 2020-21 and as you are aware have frozen the Regional Rate for 2021-22. As I advised you recently, I have also made two changes that had been sought to assist District Councils in relation to District Rates. I also plan to again extend the Small Business Rate Relief scheme and the Rural ATM scheme.