Rates relief scheme announcement welcomed
Published: 2 April, 2009
Balmoral Sinn Féin representative Vincent Parker has welcomed confirmation that a small business rates relief scheme will be in place by next year.
Mr Parker said,
"Sinn Féin recently called for the swift introduction of such a scheme to assist small and medium businesses, particularly in the current economic climate.
"My Party colleague, Martina Anderson MLA, also wrote to the Finance Minister Nigel Dodds about this issue. I am pleased, then, that he has now confirmed that he intends to have the scheme in place by next April.
"It is expected that the scheme will significantly reduce the rates burden for about 16,000 smaller businesses across the North providing a much-needed boost for the economy.
"When you consider that small indigenous companies make up 98% of business here, it becomes clear that a rates relief scheme is long overdue.
"Such programmes are already in place in England, Scotland and Wales while the South offers very low rates of corporation tax.
"All of this is putting our small business sector at an unnecessary competitive disadvantage and I congratulate the Minister for taking action on plans to bring forward a rates relief scheme."
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