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McCartney welcomes expansion of Small Business Rates Relief Scheme

20 June, 2011 - by Raymond McCartney

Sinn Féin Foyle MLA Raymond McCartney says the wheels are now firmly in motion at the Assembly Executive to extend the Small Business Rates Relief Scheme for a further three years and to increase by over 50% the numbers of businesses eligible for such relief under the scheme.

Raymond McCartney said,

“The expansion of the Rates Relief Scheme is essential to secure the sustainability of our smaller businesses and particularly those in our town centres- businesses that are struggling to survive in conditions whereby they are attempting to compete against the transnational companies yet having to shoulder a disproportionate and crippling rates burden.

“Sinn Féin has been lobbying for the existing Rates Relief Scheme to be expanded for some time arguing that this expansion be funded by introducing a levy on the out of town ‘big multiples’.

‘The core proposal in the options paper now before the Assembly Executive is to levy those large retailers that have a combined turnover of £100 billion per annum in order to finance the expansion of the Small Business Rates Relief Scheme.

“With almost certain Executive support consultation will shortly begin on these proposals with final decisions being reached in the autumn for implementation in April next year.”

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