AQW 16973/17-22 Written question to the Minister of Finance
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.
Asked by Andrew Muir MLA on 26 March 2021
- Answered
- Written
- Tabled
- 26 March 2021
- Answer due by
- 14 April 2021
- Answered
- 2 April 20217 days after tabling
- Department
- Department of Finance
- Priority question
- No
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.