AQW 17520/22-27

Mr Eóin Tennyson
Alliance Party
Upper Bann

Tabled Date: 04/11/2024
Answered On Date: 13/11/2024
Priority Written: No

Question:
To ask the Minister of Finance whether any rates relief support will be provided to childcare facilities in her Rating Policy proposals.

Answer:

141 registered childcare providers receive rate relief through the Small Business Rate Relief scheme, that support has been extended by my Department for this rating year.

The Executive agreed £25 million in the 2024-25 Budget to support the early years and childcare sector. The Childcare Strategy is aimed at making childcare more affordable for parents and families.

The analysis provided in relation to supporting the childcare sector through the rating system had highlighted that the support would go towards individual providers with no means to ensure that it would make a significant contribution to the reduction of fees for parents.

If the intent of rate relief is to support individual business within this sector, it is a matter for the Education Minister to bring forward a proposal to the Executive as part of his ongoing work in this area.

Members should remember every pound provided in new rate relief will be paid for either by other ratepayers in the system paying more or by reduction in public spending. It is therefore incumbent upon the Executive to make sure that rate relief aligns with its strategic aims and objectives.