2 March 09 Dodds confirms freeze in regional rates for 2009/2010
DODDS CONFIRMS FREEZE IN REGIONAL RATES FOR 2009/2010
Finance Minister Nigel Dodds has confirmed the freeze in regional rates for domestic and non-domestic rate payers for 2009/2010. He was speaking after today’s debate on the Regional Rates Order in the Assembly.
The minister said: “I am pleased to be able to confirm the announcement that I made in December 2008 that there will be no increases in the domestic and non domestic regional rate levels for 2009/10. At this difficult time this freeze will help our hard pressed employers and households.
“The Executive has made clear since restoration in 2007 that the economy is a number one priority and that is still our position. In these days of great economic uncertainty this legislation will help keep business costs down. It will also be welcomed by householders facing hard choices in coping with the steep rises in the cost of living recently.
“In agreeing to the freeze this Assembly has demonstrated that devolution is working hard and responding to the needs of our community, business and households."
From April 2009, the regional rate, expressed in terms of pence per pound will, for domestic properties, be 0.3608 pence and the non-domestic rate will be 29.89 pence (the same levels as applied for 2008/2009).
NOTES TO EDITORS:
The Rates (Regional Rates) Order (Northern Ireland) 2009 that fixes the figures for the regional rate is of a routine nature and simply implements the rate increases announced in the Budget.
Finance Minister Nigel Dodds has confirmed the freeze in regional rates for domestic and non-domestic rate payers for 2009/2010. He was speaking after today’s debate on the Regional Rates Order in the Assembly.
The minister said: “I am pleased to be able to confirm the announcement that I made in December 2008 that there will be no increases in the domestic and non domestic regional rate levels for 2009/10. At this difficult time this freeze will help our hard pressed employers and households.
“The Executive has made clear since restoration in 2007 that the economy is a number one priority and that is still our position. In these days of great economic uncertainty this legislation will help keep business costs down. It will also be welcomed by householders facing hard choices in coping with the steep rises in the cost of living recently.
“In agreeing to the freeze this Assembly has demonstrated that devolution is working hard and responding to the needs of our community, business and households."
From April 2009, the regional rate, expressed in terms of pence per pound will, for domestic properties, be 0.3608 pence and the non-domestic rate will be 29.89 pence (the same levels as applied for 2008/2009).
NOTES TO EDITORS:
The Rates (Regional Rates) Order (Northern Ireland) 2009 that fixes the figures for the regional rate is of a routine nature and simply implements the rate increases announced in the Budget.
Public expenditure in Northern Ireland is funded by a block grant from Westminster and the regional rates. The regional rates are struck by the Department of Finance & Personnel as a contribution towards services provided by the Departments. The rates are not assigned to financing specific elements of public expenditure. In 2009-10 the domestic Regional Rate will contribute 2.6% of public expenditure in Northern Ireland and the non domestic Regional Rate will contribute 2.9 %.
The ratepayer in Northern Ireland has a combined rate bill consisting of regional and district rates. District rates are fixed by each district council to meet its net expenditure on such functions as leisure facilities, economic development and environmental matters. District rates vary from district council to district council reflecting the rateable resources and spending policies of individual councils.
The regional rate element is just over half of a typical rate bill.
The regional and district rates are both collected by the Land & Property Services agency and the product of the district rates is paid over to each council
