The order reintroduces the rural ATM rates exemption scheme for the 2024-25 rating year. The exemption lapsed in the absence of an Executive and an Assembly in 2023, when affirmative resolution legislation could not be passed. Today's order addresses that by restoring the scheme to operation and ensuring that no liability is incurred for the lapsed period. The scheme has always been a micro-measure but has been seen as an important localised measure with the policy objective of sustaining the provision of ATMs in rural areas through the removal of any rates liability for those facilities.

I recently met representatives of high street banks, UK Finance, LINK and Cash Access UK to talk about the impact of branch closures on communities and the availability of ATMs and over-the-counter services. All of us will know that the retention of ATMs is particularly valued in rural communities that have been impacted on by branch closures, as well as by older people and low-income customers. It therefore makes sense to see what the Executive and the Assembly can do to encourage the retention of rural ATMs.

Previous research and analysis, along with feedback received during the 2019 business rates review, which was conducted just before the pandemic, confirmed that stakeholders wanted to see the scheme retained, despite the declining number of machines that were rated. I recognise, and my officials have advised the Finance Committee of this, that the legislation goes a small way towards helping the retention of specific ATMs in rural areas by extending the scheme until the end of March 2025. The scheme will continue to apply to stand-alone rural ATMs that are individually valued in the valuation list, such as separate units on main streets or completely stand-alone units. As in previous years, the scheme does not need to apply to ATMs that are located in and valued as part of banks or building societies. The value of those machines is subsumed into the overall value of that property, which is to say that they have no stand-alone rates liability. The current cost of the measure continues to be modest, at less than £50,000 in forgone rates revenue. The scheme continues to assist the retention of rural ATMs, which, as was noted in Committee, is important to many of our rural communities.

Article 1 sets out the citation, commencement and interpretation provisions. Article 2 specifies a later date of 1 April 2025 for the purposes of the definition of "relevant year" in article 42(1G) of the Rates Order 1977, with the result that the exemption will continue until 31 March 2025. Article 3 revokes the Rates (Exemption for Automatic Telling Machines in Rural Areas) Order (Northern Ireland) 2022, which had previously extended the exemption until 31 March 2023, prior to the measure's expiring in the absence of a functioning Assembly.

I look forward to Members' comments. I commend the rates order to the House.