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15/06/2004
Minister launches hardship rate relief consultation
Finance Minister, Ian Pearson has launched consultation proposals for a Hardship Rate Relief scheme to help business ratepayers.
Launching the proposals today, the Minister said the consultation paper was aimed at addressing a major omission in the current rating system.
"The publication of the original Consultation Paper on the Review of Rating Policy, in May 2002, included a question on whether there was a need in Northern Ireland to have a hardship rate relief scheme," he said.
“Many of those who responded supported the need for such a scheme to be available to help businesses in exceptional circumstances. This view was repeated and endorsed again during the public consultation exercise late last year on the draft Rates Amendment Northern Ireland Order."
Mr Pearson said that the intention of the proposed scheme is to allow Government to respond in a practical and timely way to the needs of businesses facing difficulty for reasons beyond normal commercial risk.
“It will not be a replacement for industrial de-rating, but it will allow Government to be more responsive and flexible in targeting support at individual businesses where and when it is most needed," the Minister said.
“I have decided that there will be a further round of consultation to include all business sectors, running from now until 17 September. It is my intention that the regulations will come into operation on 1 April 2005.”
(MB)
Launching the proposals today, the Minister said the consultation paper was aimed at addressing a major omission in the current rating system.
"The publication of the original Consultation Paper on the Review of Rating Policy, in May 2002, included a question on whether there was a need in Northern Ireland to have a hardship rate relief scheme," he said.
“Many of those who responded supported the need for such a scheme to be available to help businesses in exceptional circumstances. This view was repeated and endorsed again during the public consultation exercise late last year on the draft Rates Amendment Northern Ireland Order."
Mr Pearson said that the intention of the proposed scheme is to allow Government to respond in a practical and timely way to the needs of businesses facing difficulty for reasons beyond normal commercial risk.
“It will not be a replacement for industrial de-rating, but it will allow Government to be more responsive and flexible in targeting support at individual businesses where and when it is most needed," the Minister said.
“I have decided that there will be a further round of consultation to include all business sectors, running from now until 17 September. It is my intention that the regulations will come into operation on 1 April 2005.”
(MB)
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