The Finance Minister has pressed ahead with a public consultation on revenue raising reforms of the rates system, despite failing to get the move endorsed by the wider Executive.It comes after she failed on four occasions across October and November to get it listed on the agenda of the Stormont Executive for discussion.
The road-map for rates also proposes to reduce the discount for paying rates bills early from 4% to 2%. In the last financial year, more than 163,000 ratepayers availed of the 4% discount. She is also commissioning research on the cost of doing business to assess how the non-domestic rating system can be potentially adjusted accordingly.
Papers can only go on the Executive agenda if Sinn Fein First Minister Michelle O’Neill and DUP deputy First Minister Emma Little-Pengelly jointly agree to it. “Rate relief provides important support to thousands of businesses and households. We must therefore ensure supports are targeted towards those who need it most or those who are vulnerable, and that any rate reliefs are meeting their policy objectives. The more revenue spent on rate support, the less there is for vital public services.
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