9th May 2019 in Business

The Department of Finance has today announced a review of the non-domestic rating system in Northern Ireland.

Launching the review, Sue Gray Permanent Secretary at the Department of Finance said: “In recent years significant changes have taken place in our high streets and town centres. It is critical from a business perspective, as well as a government funding perspective, that our rating system is capable of responding to this wider process of change. That’s why today I am announcing a full and comprehensive review of business rates.

“We must create a rating system which generates the funding our public services need while supporting businesses in all sector and enabling economic growth right across Northern Ireland.

“In an environment where we are working without Ministers there are limitations to what we can do by way of policy change. But we need to be ready with updated advice for incoming Ministers for their return to office. This fundamental review is therefore a critical part of this process.”

Part of the review will see a joint Innovation Lab held at the beginning of July with other Government Departments. The Lab event will gather leading policy experts in the field of urban regeneration, taxation and the high street to capture their perspectives, ideas and options on a range of issues affecting town centre regeneration, including business rates. It will provide an open space for an in-depth conversation about the future of non-domestic rates.

Further details of the review can be found at https://www.finance-ni.gov.uk/articles/latest-developments-rating-policy

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