Menu
02/02/2011
Climate Levy 'Reduction' Welcomed
NI businesses will soon face a £1.5m bill because of a climate change levy, even though they will be paying only a proportion of the full amount.
CBI Northern Ireland Regional Director Nigel Smyth said: "What is going to happen now is that costs will go up by £1-1.5 million. It is a significant achievement to get this," he told the Belfast Telegraph this week.
But it could have been much worse, as the Stormont Energy Minister Arlene Foster (pictured) welcomed what she said is a 'variation' that will reduce the climate change levy charges on gas supplies for NI businesses.
She said that the announcement to replace the climate change levy exemption for supplies of gas in Northern Ireland to a lower rate from 1 April, was made by the Economic Secretary to the Treasury, Justine Greening.
Northern Ireland's current exemption from the Climate Change Levy (CCL) on gas supplies to business and the public sector is due to end on 31 March and the Department of Enterprise, Trade and Investment has been working closely with HM Revenue and Customs and HM Treasury in efforts to reduce the potential CCL burden on local companies.
Ms Foster said: "I welcome that as a result of discussions with Treasury it has been agreed that Northern Ireland companies will pay a reduced rate of CCL from 1 April 2011 up to 31 October 2013.
"The lower rate represents a 65% reduction on the full rate of CCL on gas supplies and should come as a very significant reduction on potential energy costs for business and public sector customers at this difficult economic time.
"Northern Ireland has benefitted from the current exemption from CCL for a full 10 years to allow the fledgling gas industry to grow.
"My Department did seek the European Commission's approval for an extension to the exemption but it was apparent that that application was extremely unlikely to be successful under current State aid guidelines.
"Rather than wait for several more months, during which customers would have to pay the levy, only to then have the application declined, I took the decision to negotiate with HM Treasury on a reduced rate which is at the discretion of the Member State.
"These negotiations have been successful and, with HM Treasury's agreement to a significantly reduced rate of CCL for a further two and half years, I hope that this will offer a significant benefit to local businesses and encourage further energy users to convert to natural gas."
(CD/BMcC)
CBI Northern Ireland Regional Director Nigel Smyth said: "What is going to happen now is that costs will go up by £1-1.5 million. It is a significant achievement to get this," he told the Belfast Telegraph this week.
But it could have been much worse, as the Stormont Energy Minister Arlene Foster (pictured) welcomed what she said is a 'variation' that will reduce the climate change levy charges on gas supplies for NI businesses.
She said that the announcement to replace the climate change levy exemption for supplies of gas in Northern Ireland to a lower rate from 1 April, was made by the Economic Secretary to the Treasury, Justine Greening.
Northern Ireland's current exemption from the Climate Change Levy (CCL) on gas supplies to business and the public sector is due to end on 31 March and the Department of Enterprise, Trade and Investment has been working closely with HM Revenue and Customs and HM Treasury in efforts to reduce the potential CCL burden on local companies.
Ms Foster said: "I welcome that as a result of discussions with Treasury it has been agreed that Northern Ireland companies will pay a reduced rate of CCL from 1 April 2011 up to 31 October 2013.
"The lower rate represents a 65% reduction on the full rate of CCL on gas supplies and should come as a very significant reduction on potential energy costs for business and public sector customers at this difficult economic time.
"Northern Ireland has benefitted from the current exemption from CCL for a full 10 years to allow the fledgling gas industry to grow.
"My Department did seek the European Commission's approval for an extension to the exemption but it was apparent that that application was extremely unlikely to be successful under current State aid guidelines.
"Rather than wait for several more months, during which customers would have to pay the levy, only to then have the application declined, I took the decision to negotiate with HM Treasury on a reduced rate which is at the discretion of the Member State.
"These negotiations have been successful and, with HM Treasury's agreement to a significantly reduced rate of CCL for a further two and half years, I hope that this will offer a significant benefit to local businesses and encourage further energy users to convert to natural gas."
(CD/BMcC)
Related Northern Ireland News Stories
Click here for the latest headlines.
18 October 2012
Gas Storage To Be Built Under Lough
A £440m gas storage facility is to be built a mile underneath Larne Lough. The development will enable 500m cubic metres of natural gas to be stored in caverns underneath the lough. The new bank will be able to hold enough gas to provide energy for Northern Ireland for sixty days.
Gas Storage To Be Built Under Lough
A £440m gas storage facility is to be built a mile underneath Larne Lough. The development will enable 500m cubic metres of natural gas to be stored in caverns underneath the lough. The new bank will be able to hold enough gas to provide energy for Northern Ireland for sixty days.
10 April 2018
Rate Bills Due To Be Issued To Homes And Businesses
Rate bills are due to be issued to homes and businesses in Northern Ireland from Land & Property Services (LPS), part of the Department of Finance. The bill outlines the amount due for the billing period 2018/19 and includes any debt from previous years that has not been paid, along with any rate relief where applicable.
Rate Bills Due To Be Issued To Homes And Businesses
Rate bills are due to be issued to homes and businesses in Northern Ireland from Land & Property Services (LPS), part of the Department of Finance. The bill outlines the amount due for the billing period 2018/19 and includes any debt from previous years that has not been paid, along with any rate relief where applicable.
02 April 2015
Ratepayers To Receive New Rate Bills
Homeowners and businesses throughout the new Belfast District Council area are to receive their rate bill for 2015/16 this week. The bill will show the amount due for the new billing period 2015/16, including any debt that may have been carried forward from previous years, along with any rate relief, where applicable.
Ratepayers To Receive New Rate Bills
Homeowners and businesses throughout the new Belfast District Council area are to receive their rate bill for 2015/16 this week. The bill will show the amount due for the new billing period 2015/16, including any debt that may have been carried forward from previous years, along with any rate relief, where applicable.
30 March 2015
Finance Minister Announces New Annual Rate Statement
A new annual rate statement for all domestic rate payers in Northern Ireland has been introduced by the Finance Minister. From April 2015, the annual rate statement will show how households' rate payment contributes to the provision of public services such as health, education and roads, as well as a range of other important regional services.
Finance Minister Announces New Annual Rate Statement
A new annual rate statement for all domestic rate payers in Northern Ireland has been introduced by the Finance Minister. From April 2015, the annual rate statement will show how households' rate payment contributes to the provision of public services such as health, education and roads, as well as a range of other important regional services.
05 February 2009
Three NI Banks Cut Interest Rates
Most of Northern Ireland's big banks have agreed to adopt the latest UK interest rate cut. First Trust, Bank of Ireland and Ulster Bank have all brought their base rates into line with the reduction. The Bank of Ireland and Ulster Bank both said they were reviewing how the cut would affect standard variable rate products.
Three NI Banks Cut Interest Rates
Most of Northern Ireland's big banks have agreed to adopt the latest UK interest rate cut. First Trust, Bank of Ireland and Ulster Bank have all brought their base rates into line with the reduction. The Bank of Ireland and Ulster Bank both said they were reviewing how the cut would affect standard variable rate products.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
