Commenting, Belfast Chamber Chief Executive Simon Hamilton said, “Belfast Chamber has consistently called for both a sizeable reduction in the non-domestic regional rate and the retention of the Small Business Rates Relief scheme. We are half that today the Finance Minister has listened to the representations by Belfast Chamber and others and cut the business regional rate by around 5p and also renewed the Small Business Rates Relief scheme. Both steps will benefit many businesses in Belfast and across the region. We particularly hope that this sizeable reduction in the non-domestic regional rate is not just temporary but rather a recognition that business rates in Northern Ireland have been too high and signal of intent for the future.
“Today’s Budget is taking place in an unprecedented set of circumstances. The COVID-19 pandemic has really impacted hard on businesses in Belfast. Whilst we welcome the support that the Executive has introduced so far, we strongly believe that more help is needed. We would urge the Executive to bring forward further interventions to help those businesses who have been forced to close or cease trading as a consequence of the necessary measures to protect the public’s health and also to help companies who have been unable to avail of the grant scheme but are nonetheless seriously affected by COVID-19”.
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