Finance Minister Must Outline Next Steps After Rates Reval Pause – Retail NI
Retail NI has called on the Finance Minister to urgently outline the next steps after the 2026 Business Rates Revaluation was halted last week.
Giving evidence to the Northern Ireland Assembly’s Finance Committee this afternoon, Retail NI Chief Executive Glyn Roberts said:
“Minister O’Dowd made the right call in stopping the Reval given its potential impact on hospitality and not forgetting that 25 per cent of retailers would also have faced very significant increases in their rates bills.
“Retail and hospitality are the twin pillars supporting our high streets. Together, they account for most businesses in our town and city centres. We already face a high street dereliction crisis, with vacancy rates at around 25 per cent. Had this Reval proceeded, it would have made a bad situation significantly worse.
“While we welcome the Minister’s commitment to remain in ‘listening mode’, retailers now need real reflection of the challenges they are facing, clarity on what happens next, and—crucially—a transparent engagement process that includes meaningful consultation with those directly affected.
“Retail NI urges the Minister to establish a new cross-sector Business Rates Advisory Group to help shape the next steps on Reval and to co-design a new, high-street-focused rates relief scheme to support independent retailers, hospitality and leisure modelled on the English system.”
