South Down Westminster Candidate Margaret Ritchie (SDLP) has called for immediate action from the Minister for Finance and Personnel to review rates increases which will place the viability of local enterprises under threat.
She said:xa0“I have been contacted by a number of business owners who have serious concerns about huge increases in business rates which have had a significant impact on their ability to trade.
“As we start to slowly inch out of the economic downturn and the shoots of recovery begin to appear, it’s important that we encourage growth. Unfortunately new business rates, particularly in the manufacturing, retail and hospitality industries, have seen many firms receive increased burdens that are significantly higher than usual. I know of one such business that has seen their rates increase from £8,000 to £25,000.
“The Finance Minister needs to look at this as a matter of urgency. There are many local businesses that could be pushed into further debt, or worse forced out of business altogether as a result of these changes”, added Ms Ritchie.
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