AQW 13714/22-27

Mr Matthew O'Toole
Social Democratic and Labour Party
South Belfast

Tabled Date: 21/06/2024
Answered On Date: 25/06/2024
Priority Written: Yes

Question:
To ask the Minister of Finance when her Department will publish proposals for changes in our domestic and business rates system based on the consultation that took place between November 2023 and February 2024.

Answer:

I wanted to give Committee sight of the factual report summarising the consultation responses received in relation to the Rating Revenue Raising Measures well in advance of publication. So, it has been provided to you as Chair of the Finance Committee. My officials also provided extensive briefing to the Committee on the responses received in closed session on 12 June. As officials are currently in a pre-election period, it is not possible for them to publicly comment on policy or publish the consultation report until after the election.

Any future changes to the rating system will be made between now and the end of the Assembly mandate. They will be informed by the evidence gathered as part of the consultation process that ended in February this year.

My proposals for changes to the rating system will be based on the widest evidence base available. This includes my extensive engagement with stakeholders since taking up post, the Executive’s wider policy priorities, my desire to grow the tax base, and my Department’s wider work on Budget sustainability.

I am developing short, medium and long term policy proposals for the Executive that will work for our own devolved tax system. Although rates are a devolved matter, I will also be taking account of any change in position on business rates by the new government formed at Westminster, including any potential Barnett consequentials that may relate to that position.