Additional Rates Support Confirmed

Finance Minister, Conor Murphy has confirmed he intends to provide businesses with a £50 million rates support package in the 2022/23 financial year as well as continuing the Small Business Rate Relief which will benefit thousands of business premises.

Visiting Two Sisters artisan food and craft store and Bumbles Day Care in Belfast Minister Murphy said:

“Over recent months I have visited businesses from all sectors across the North. The common message coming from these businesses has been that the rates holiday was a vital lifeline for them during the pandemic.

“As businesses continue to rebuild, I am announcing a further £50 million rates support package to support the recovery. This will provide all businesses with a one month rates holiday with the exception of utilities and larger food stores while retail, hospitality, tourism, leisure, childcare, newspapers and airports will receive a three months rates holiday. Businesses in these hardest hit sectors have paid no rates since March 2020 and will now pay no rates until July 2022.”

Commenting on the rates support package announced, Pauline Walmsley, Chief Executive Officer of Early Years - the organisation for young children, said:

“The three additional months rates relief announced by the Minister today recognises the vital role of Daycares and the impacts experienced by the sector throughout this pandemic. It is very much welcomed.

We thank the Minister for this commitment and will continue to work with the Department to support the key services that Daycares provide to children, their families and the wider community.”

The full Department of Finance news release on this can be accessed here.

A picture of the Minister’s visit to Bumbles Day Care can be accessed here.