Covid-19: Businesses could get more help with rates bills

Some businesses in Northern Ireland could get continued help with their rates in the next financial year.

Rates are property taxes but some sectors have been exempt for the past two years as a pandemic support measure.

Those exemptions end in April but Finance Minister Conor Murphy said he is looking at continued "tailored support".

However he cautioned it could not be on the same scale as the current measure.

Mr Murphy has asked the Ulster University Economic Policy Centre to analyse the issue and any decision will be announced at the same time as Stormont's draft budget.

"We're going to have a hard look at those who are continuing to struggle and might need some support," he told BBC Radio Ulster's Inside Business.

The Sinn Féin MLA added that he needs to give realistic expectations: "The very generous package we offered during the pandemic - that level of resource isn't available.

"It will have to be something more measured and tailored."

Almost 30,000 businesses across retail, hospitality, airports, childcare and manufacturing have had a two years "rates holiday".

This was a more comprehensive measure compared to rates exemptions in other parts of the UK.

Rates support to businesses in Northern Ireland has amounted to more than £500m, possible because of one-off pandemic support funding from the Treasury.

In his budget last month the chancellor gave some businesses in England further help with their rates.

Rishi Sunak said in the 2022-23 tax year, pubs, music venues, cinemas, restaurants, hotels, theatres and gyms would be able to claim a discount on their bills of 50%, up to a maximum of £110,000.

He said the measure would be worth almost £1.7bn to businesses.