AQW 10526/22-27

Mr John Stewart
Ulster Unionist Party
East Antrim

Tabled Date: 19/04/2024
Answered On Date: 29/04/2024
Priority Written: No

Question:
To ask the Minister of Finance what consideration has been given to extend the provisions of the Small Business Rate Relief Scheme to replicate the business rates relief scheme in England.

Answer:

My Department has already extended the period for Small Business Rate Relief for the 2024/25 rating year, which will be delivering £21.5m of rate support to 29,000 ratepayers with them receiving a reduction of between 20% and 50% on their rate bill.

There is a cost in replicating the scheme in England within the confines of our very different taxbase. Scotland have not adopted the English policy position, and likewise Wales who initially matched the provision found this unaffordable and reduced support to 40% for 2024/25.

Rates are a devolved matter, and it is up to the Executive to align support to local needs and its priorities in Government. Every pound spent on additional rate relief is either deducted from the amount available for public spending or is paid for by increased bills for other ratepayers. We also have our own generous support schemes for other sectors of the economy that are not available in England, Scotland or Wales such as Industrial Derating which provides over £71.5m of support to 4,400 local manufacturers.