£213m rates support package announced for Northern Ireland businesses

Finance Minister Conor Murphy has announced £213m rates support package for businesses impacted by COVID-19.

The three moth rates holiday which was announced in March has now been extended to 12 months.

Under the new scheme, developed with independent analysis from the Ulster Univeristy Economic Policy Centre, the sectors hardest hit by the pandemic will pay no rates for the full financial year up until March 31st 2021.

Commenting on the announcement, Retail NI Chief Executive, Glyn Roberts said:

“This is a welcome announcement and we are pleased that Minister Murphy has listened to our representations that a targeted approach to rate relief is needed to support small independent retailers during this crisis”

“While not all of our members will benefit from the twelve months rates holiday, it will be welcome news for many small to medium sized Retail NI members who have faced immense difficulties over the past few months”

“Getting the rates holiday over the line is absolutely crucial in helping independent retail businesses begin to plan for recovery and for the wider reopening of the economy,” Mr Roberts concluded.

Leave a Reply

Your email address will not be published. Required fields are marked *