NIIRTA Welcomes Business Rates Freeze

The Northern Ireland Independent Retail Trade Association (NIIRTA) has welcomed DFP Minister’s announcement today of ‘freezing’ in real terms of the non-domestic rates for 2014/15.

NIIRTA Chief Executive Glyn Roberts said: “Our members will welcome this announcement from Minister Hamilton that business rates are to be effectively frozen for the next year. This builds upon 15 local councils striking zero per cent rates increase and three councils actually reducing business rates”

“At this early stage of economic recovery it is vital that every level of Government keeps all forms of taxation at their lowest to enable local traders to grow their businesses and employ more staff.  In recent years we have made steady progress on rates, with the successful introduction of the Small Business and Empty Premises Rates Relief Schemes.”

Glyn added: “We need to keep building upon this progress to secure our local economic recovery.”

This announcement comes just days after Minister Hamilton said NI still presents “a very good opportunity” to foreign investors, despite current political uncertainty.

He was speaking at an event hosting the European Investment Bank.