The Northern Ireland Independent Retail Trade Association (NIIRTA) has given a welcome to today’s report from the Department of Finance, which sets out some initial thinking on the reform of business rates.
NIIRTA Chief Executive Glyn Roberts said: “The initial thinking of the review of business rates is moving in the right direction. It is welcome that Minister Storey has accepted some of our proposals, such as Revaluations every three years and greater transparency of the calculations behind that process.
“Business Rate Reform is now the top economic issue for the incoming Finance Minister to address after the Assembly Election. We need radical reform of business rates and not merely small scale superficial changes.
“With the Chancellor announcing last week that many small retailers will now be paying no rates at all and a big extension in Small Business Rates Relief Scheme in England, the NI Executive has some serious catching up to with reforming our business rates.
“If a typical corner shop in Barnstaple will now pay no business rates, why cannot this be the case for corner shops in Ballymena or any other local towns?
“Expanding the Small Business and Empty Premises Rates Relief Schemes as well as introducing Capital Allowance and Rural Rate Schemes are all essential elements NIIRTA has put forward.
“Every party contesting the Assembly Election must include business rates reform in their manifestos and make it a top priority of the Programme for Government negotiations post election”.
