Business groups in Northern Ireland have welcomed the decision by Westminster to freeze the regional portion of rates bills.
Secretary of State Chris Heaton-Harris announced that non-domestic regional rates – the portion of the annual rates bill which goes to Stormont – would be frozen for businesses for the coming financial year, while households will face a 6% hike. Mr Heaton-Harris made the decision in the absence of a functioning Executive which has yet to reform following elections last spring as a result of the DUP’s standoff over the Northern Ireland Protocol.
The move offers some respite for hard pressed businesses which are facing an increase in the portion of rates paid to the province’s 11 councils of around 7%.
