Retail NI chief executive Glyn Roberts has responded to the chancellor's Budget, calling on the Northern Ireland Executive to use additional funding to deliver rates relief for local small businesses. His comments follow the announcement that around 70,000 small retail, hospitality and leisure businesses in England will be taken out of paying business rates altogether.
Concerns over Budget's impact on local economy
Roberts said that "at first glance, it is difficult to see how this Budget will address the immediate challenges facing our local economy and high streets." He welcomed the chancellor's announcement but stressed that the Barnett consequential funding received by the Northern Ireland Executive must be used to deliver meaningful rates relief for small businesses in Northern Ireland.
Roberts questioned why local small businesses, who already face the highest business rates burden in the UK, should be denied the same support as their counterparts in England. He noted that high streets in Northern Ireland have the highest vacancy rates in the UK, at 25%.
Call for prioritisation of small business support
The Retail NI chief executive said the Executive now has an opportunity to use this additional funding to make a real difference. He urged it to prioritise small business rates relief, support independent retailers and help tackle the growing high street vacancy crisis.
Roberts concluded: "Northern Ireland's small businesses cannot afford to be left behind. The Executive must ensure that this Budget delivers tangible benefits for our local economy and the businesses at the heart of our communities."
