Murphy: ‘Extension of rates relief will boost small businesses’

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Friday, December 16th, 2011
Sinn Fein MP Conor Murphy has welcomed the decision by the Stormont Executive to extend the Small Business Rates Relief Scheme to a greater number of local businesses. Mr Murphy, who is Chair of the Assembly’s Finance Committee said, “In our Committee Report on this issue last week we supported the proposal to extend the Rates Relief Scheme as we recognised that a lot of small local businesses are struggling to keep their doors open in this difficult economic climate. I am pleased that the Finance Minister accepted our recommendation to exclude chains of over three premises to ensure that this relief is targeted where it is most needed, local small traders.” Mr Murphy added, “However, I do believe that the Minister should have expanded the Large Retail Levy to include financial institutions, utility companies, hotels and wholesalers as this could have spread the burden across large businesses in a more equitable way. These are extremely difficult times for local businesses with the austerity measures being imposed by both London and Dublin greatly reducing household spending power. The Executive must do all it can to support local traders and I would urge everyone to support our local economy through their spending this Christmas.”
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