FSB NI reacts to draft Budget

Press Releases 18 Jan 2021

Roger Pollen reacts to the Finance Minister's statement

Following the Finance Minister, Conor Murphy’s publication of a draft Budget, the Head of FSB Northern Ireland, Roger Pollen, has welcomed the policy intention to limit the massive burden that rates impose on local businesses, although he noted the mammoth task facing the Executive to re-energise the local economy once the public health situation improves.

Commenting, Roger Pollen said:

“In 2020, the Finance Minister greatly reduced the rates levied on local businesses, recognising that it was the most effective way to provide a lifeline to many struggling firms. Given the continuing financial pressure which businesses are experiencing because of coronavirus, we have been looking to the Minister to reduce the burden in the coming financial year, so it is right he has announced his intention to freeze the regional rate. Of course, this is only the proportion of rates for which Stormont has responsibility, so local councils must also step up and ensure that their share of the rate bills are not increased for businesses, as they also have responsibility in this regard.

“Beyond the intention not to increase rates, there is also a compelling need to maintain the underlying reliefs – the Small Business Rate Relief and Industrial De-rating - as well as to consider whether it is even appropriate to be charging rates at all when so many businesses remain close to collapse.

“The intention for further rates support for businesses and investment in capital infrastructure is welcome but it is vital that this assistance recognises the broad range of businesses that have been impacted by the pandemic.

“The Executive has a mammoth task ahead of it to re-energise the local economy when the public health situation improves and we look forward to engaging with Ministers to ensure these measures have the greatest possible impact.”