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05/03/2014
Small Business Rates Relief To Be Evaluated
An evaluation of the Small Business Rate Relief Scheme has been announced by the Department of Finance.
Finance Minister Simon Hamilton made the announcement at a meeting of Lisburn Chamber of Commerce today.
"In the Lisburn City Council area alone over 1,600 premises have benefited from the Small Business Rate Relief Scheme since it was introduced," he said.
"The scheme provided much needed support to businesses throughout Northern Ireland during a difficult economic period. The scheme is due to end in April 2015 but I am taking steps to evaluate the scheme in line with the Executive’s Programme for Government. Preparatory work on the evaluation will start in the next few weeks."
The Minister also confirmed the extension of further relief for hard-pressed house builders in Northern Ireland through the continuation of exemption from rates liability for empty homes built speculatively during the property boom.
"Although the housing market is showing signs of recovery, the imposition of rates on builders holding stocks of unsold houses built speculatively during the housing boom will not help the recovery of the construction industry in Northern Ireland," the Minister continued.
"This exemption, which applies to a particular generation of properties badly affected by the housing crash, will be extended for an additional 12 month period. It is my expectation that, given the recent emerging signs of increased sales in the housing market, numbers in receipt of this exemption will start to fall substantially in the next rating year."
(IT)
Finance Minister Simon Hamilton made the announcement at a meeting of Lisburn Chamber of Commerce today.
"In the Lisburn City Council area alone over 1,600 premises have benefited from the Small Business Rate Relief Scheme since it was introduced," he said.
"The scheme provided much needed support to businesses throughout Northern Ireland during a difficult economic period. The scheme is due to end in April 2015 but I am taking steps to evaluate the scheme in line with the Executive’s Programme for Government. Preparatory work on the evaluation will start in the next few weeks."
The Minister also confirmed the extension of further relief for hard-pressed house builders in Northern Ireland through the continuation of exemption from rates liability for empty homes built speculatively during the property boom.
"Although the housing market is showing signs of recovery, the imposition of rates on builders holding stocks of unsold houses built speculatively during the housing boom will not help the recovery of the construction industry in Northern Ireland," the Minister continued.
"This exemption, which applies to a particular generation of properties badly affected by the housing crash, will be extended for an additional 12 month period. It is my expectation that, given the recent emerging signs of increased sales in the housing market, numbers in receipt of this exemption will start to fall substantially in the next rating year."
(IT)
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Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
