Public Expenditure: Draft Budget 2021-22

Part of Ministerial Statement – in the Northern Ireland Assembly at 6:15 pm on 18 January 2021.

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Photo of Conor Murphy Conor Murphy Sinn Féin 6:15, 18 January 2021

I thank the Member for his question. I am conscious that the Chair asked me that as well, but I neglected to deal with it, as I was trying to get through the number of questions that he had asked. Yes, businesses have made it very clear to us that the thing that they would like that would benefit local businesses — small, medium and large — most is a continuation of the rates holiday that many of them have experienced over the past 12 months. Some of the carry-forward COVID money that we have bid for and argued for is intended to provide some level of rate relief into the next financial year, and hopefully as much as we can possibly provide. Hopefully, if the vaccination programme rolls out and the pandemic begins to recede, a lot of businesses will re-emerge and be back trading again in the new financial year, but they will continue to struggle with bills.

Rates is a particular bill. The business community has argued in all of our dialogue with it over the past year that the one measure that has had the most impact, by providing it with a level of support, is the taking of the rates bill off the table. That has also assisted councils, as it has given them a guarantee for their rates income. It is something that we very much want to do, and we have earmarked money to be set aside into the next financial year to do that. The earlier that we can give businesses the advice that that is what we intend to do, the more that they can plan and budget for next year.