FSB NI Welcomes Non Domestic Rate Decision

FSB NI says freezing non-domestic rates is good move by NI SoS

FSB NI says freezing non-domestic rates is good move by NI SoS

The decision to freeze non-domestic regional rate removes one of the threats hanging over businesses.

Commenting on the decision by the Secretary of State for Northern Ireland, the Rt Hon Chris Heaton-Harris MP, the Policy Chair of FSB Northern Ireland, Alan Lowry, said:

“We are very pleased that the Secretary of State has recognised the immense pressures facing SMEs in Northern Ireland and chosen not to add to their burden as he strikes the Regional Rate.

“In choosing to freeze the non-domestic regional rate, the Secretary of State has removed one of the threats that has been hanging over businesses.

“The next step must be for officials in the Department of Finance to prioritise some of our most challenged sectors and match the support that the Chancellor saw fit to provide in England and Wales when he introduced a 75% discount for retail, hospitality, tourism and leisure”.

Mr Lowry continued: “Our members in these sectors are telling us about the pressures they are facing and cannot see how officials could decide that the pressure is somehow less in Northern Ireland than that in England or Wales.

“SMEs provide the majority of employment in Northern Ireland, and these sectors are a key part of our tourism offering which brings in wealth from elsewhere, so we must see them prioritised for similar support.”