Finance Minister has announced the extension of
the Small Business Rate Relief, Back in Business and rural ATMs
exemption schemes for the 2026/27 year.
Speaking after the Assembly debated the measures on Tuesday,
Minister O'Dowd said: “Small businesses are the backbone of our
local economy, creating jobs, helping grow our economy and
supporting workers, families and communities.
“The extension of Small Business Rate Relief for a further year
means that while consultation outcomes on enhancements to the
scheme are considered, we will continue to provide around 30,000
businesses with reductions of between 20% and 50% on their rates
bill.
“Importantly, on completion of the Budget process, I will also be
making the case for further broadening of this key small business
support measure to increase the scope of the small business rate
relief and the overall number of recipients for 2026/27,
utilising the £10million set aside in my Draft Budget proposals
for this.
“I want to see more support directed to businesses that provide
vital employment and sustain workers, families, and communities.”
The Minister added: “Since its restoration, the Back in Business
scheme has helped bring long‑term vacant high street properties
back into use, and helped businesses establish a strong
foundation, create jobs and support the local community. Since
May 2024, 113 businesses have benefitted from the scheme,
receiving over £600,000 in rate support. The continuation of the
scheme will create space for further business creation and
growth.
“The extension of the schemes will continue to support new and
existing businesses, as well as rural communities through
retention of the rural ATM exemption. Retention of existing ATMs
is especially important given the decline in the number of banks
and the need to maintain access to cash in our local
communities.”
In addition to extending rate support schemes, the Assembly also
approved Regional Rate increases of 5% for domestic properties
and 3% for non-domestic. This means the average household will
pay 63p per week more on the Regional Rate element of their bill.
Minister O'Dowd said: “Rates play a vital role in funding public
services such as hospitals, childcare and schools, as well as
many other essential services. The Regional Rate agreed is
expected to raise just over £900million in the forthcoming
financial year.
“Keeping the domestic uplift at the same level as last year is in
recognition of the cost of living pressures felt by many
households. Keeping, and setting, the non-domestic rate at a
lower level, a below inflation increase at the time it was agreed
by the Executive last month, reflects the pressures facing
local businesses and their vital role in
supporting jobs in our local communities and driving
local growth.”
Notes to editors:
1. The Back in Business scheme provides a 50% business rates
discount for up to two years when a business occupies a retail
property that has been vacant for at least 12 months.
