Menu
10/11/2011
Rates Levy On Larger Supermarkets In Focus
A possible levy on larger supermarkets across NI to help fund a proposed rates relief scheme for struggling NI businesses has been in focus at the Stormont Executive this week.
However, the NI Finance Minister, Sammy Wilson, has now played down the controversial proposal, saying he has been told it would "do damage to the sector".
Yesterday, he published a report and summary of responses on the plans to rebalance the business rates system.
The report follows the consultation launched in June on the proposals to expand the small business rate relief scheme by charging a temporary rates levy on the largest shops.
"During the consultation period I met with a range of businesses, both large and small, and their representative organisations. I will be carefully reflecting on these discussions and all the views I have received.
"I will also be taking into account the views of the Finance and Personnel Committee," the DUP Minister said.
"The proposals are put forward to rebalance the non-domestic rating system so that during this continuing downturn additional small businesses would get help, while the very largest retailers would pay more.
"Economic conditions are poor, particularly for small businesses, and I believe it is important that the Executive does all that it can to help sustain them through to recovery and to allow them to grow," he said.
"However, what is certain is that paying for it out of public expenditure is a thing of the past. The funding for the extension of the small business rate relief scheme has to come from somewhere else."
Turning specifically to his controversial proposal to put a levy on larger supermarkets, such as Tesco and Asda, he added: "I have noted the concerns that have been expressed by those representing large retailers that a levy would do damage to that sector, particularly with worsening retail sales in Northern Ireland.
"While my mind has not been made up yet on the levy it has to be said that the consultation did not stimulate any new thinking on how the extra money could be raised to help small businesses through these extremely difficult times, beyond suggestions of a general increase in the regional rate or applying the levy to other large non-domestic properties.
"I am not attracted to these alternatives as they run contrary to Executive policies in a number of areas," he said before he outlined the next steps.
"I am still considering the evidence presented during the consultation. Only when I have heard the views of the Finance and Personnel Committee will I present recommendations to my Ministerial colleagues in the Executive.
"Following this I will announce final decisions on the way forward and present the necessary legislation to the Assembly, in December, so that the expanded small business relief rate relief scheme can be funded and in place in time for next year's rate bills."
(BMcC/GK)
However, the NI Finance Minister, Sammy Wilson, has now played down the controversial proposal, saying he has been told it would "do damage to the sector".
Yesterday, he published a report and summary of responses on the plans to rebalance the business rates system.
The report follows the consultation launched in June on the proposals to expand the small business rate relief scheme by charging a temporary rates levy on the largest shops.
"During the consultation period I met with a range of businesses, both large and small, and their representative organisations. I will be carefully reflecting on these discussions and all the views I have received.
"I will also be taking into account the views of the Finance and Personnel Committee," the DUP Minister said.
"The proposals are put forward to rebalance the non-domestic rating system so that during this continuing downturn additional small businesses would get help, while the very largest retailers would pay more.
"Economic conditions are poor, particularly for small businesses, and I believe it is important that the Executive does all that it can to help sustain them through to recovery and to allow them to grow," he said.
"However, what is certain is that paying for it out of public expenditure is a thing of the past. The funding for the extension of the small business rate relief scheme has to come from somewhere else."
Turning specifically to his controversial proposal to put a levy on larger supermarkets, such as Tesco and Asda, he added: "I have noted the concerns that have been expressed by those representing large retailers that a levy would do damage to that sector, particularly with worsening retail sales in Northern Ireland.
"While my mind has not been made up yet on the levy it has to be said that the consultation did not stimulate any new thinking on how the extra money could be raised to help small businesses through these extremely difficult times, beyond suggestions of a general increase in the regional rate or applying the levy to other large non-domestic properties.
"I am not attracted to these alternatives as they run contrary to Executive policies in a number of areas," he said before he outlined the next steps.
"I am still considering the evidence presented during the consultation. Only when I have heard the views of the Finance and Personnel Committee will I present recommendations to my Ministerial colleagues in the Executive.
"Following this I will announce final decisions on the way forward and present the necessary legislation to the Assembly, in December, so that the expanded small business relief rate relief scheme can be funded and in place in time for next year's rate bills."
(BMcC/GK)
Related Northern Ireland News Stories
Click here for the latest headlines.
24 November 2011
Stormont's Big Store Levy Faces Opposition
Large retailer levies are not the way forward, says the Royal Institution of Chartered Surveyors, (RICS).
Stormont's Big Store Levy Faces Opposition
Large retailer levies are not the way forward, says the Royal Institution of Chartered Surveyors, (RICS).
02 March 2022
Business Rates Frozen For Another Year
Regional business rates are to be frozen for another year, Finance Minister, Conor Murphy has announced. The Minister also confirmed he intends to provide businesses with a £50 million rates support package in the 2022/23 financial year as well as continuing the Small Business Rate Relief which will benefit thousands of business premises.
Business Rates Frozen For Another Year
Regional business rates are to be frozen for another year, Finance Minister, Conor Murphy has announced. The Minister also confirmed he intends to provide businesses with a £50 million rates support package in the 2022/23 financial year as well as continuing the Small Business Rate Relief which will benefit thousands of business premises.
15 October 2014
NI Businesses Face 'Perfect Storm' Of Rates - NIIRTA
Northern Ireland's Private Sector is a facing a "perfect storm" of challenges with Business Rates in 2015, according to the Northern Ireland Independent Retail Trade Association (NIIRTA). The Association made the announcement in its evidence to the Assembly Finance and Personnel Committee this morning.
NI Businesses Face 'Perfect Storm' Of Rates - NIIRTA
Northern Ireland's Private Sector is a facing a "perfect storm" of challenges with Business Rates in 2015, according to the Northern Ireland Independent Retail Trade Association (NIIRTA). The Association made the announcement in its evidence to the Assembly Finance and Personnel Committee this morning.
16 December 2011
Big Stores 'Tax' Boosts Smaller Ones
A levy on large stores across NI is to go ahead - but at a reduced rate than originally proposed. The 'Tesco tax' as it has been named means that large retailers might then limit investment - and cost job creation opportunities.
Big Stores 'Tax' Boosts Smaller Ones
A levy on large stores across NI is to go ahead - but at a reduced rate than originally proposed. The 'Tesco tax' as it has been named means that large retailers might then limit investment - and cost job creation opportunities.
29 July 2009
Rates Relief For SMEs Proposed
A scheme to reduce the rates burden for small and medium-sized businesses (SMEs) in Northern Ireland looks set to get the go-ahead. Stormont Finance Minister Sammy Wilson confirmed hw will press ahead with a scheme for Northern Ireland, following a meeting with the Northern Ireland Independent Retail Trade Association.
Rates Relief For SMEs Proposed
A scheme to reduce the rates burden for small and medium-sized businesses (SMEs) in Northern Ireland looks set to get the go-ahead. Stormont Finance Minister Sammy Wilson confirmed hw will press ahead with a scheme for Northern Ireland, following a meeting with the Northern Ireland Independent Retail Trade Association.
-
Northern Ireland WeatherToday:A chilly start with a widespread frost and some freezing fog, any freezing fog slow to clear. Otherwise bright with sunny spells and coastal showers. Light winds. Maximum temperature 6 °C.Tonight:Coastal showers dying out with a widespread frost developing along with freezing fog, which could become extensive. Winds remaining light. Minimum temperature -3 °C.
