Ritchie calls for immediate reinstatement of Aggregates Levy Credit Scheme | Latest Newry News, Newry Sport and Newry Business for Newry City

Ritchie calls for immediate reinstatement of Aggregates Levy Credit Scheme

SDLP South Down MP Margaret Ritchie has called for an immediate move to reinstate the Aggregate Levy Credit Scheme (ACLS) which is vital for the Quarry and Construction industries in the North.

Margaret RitchieSpeaking to Newry Times, she said, “The scheme rewards compliant contractors with an 80% credit from the Aggregates Levy which is critical to ensure that the local industry remains viable.

“I was pleased when the European Commission made the right decision on this scheme and we saw legislation passed at Westminster to pave the way for changes. It’s vital now that the scheme is reinstated as soon as possible to allow for the implementation of the 80% derogation for local companies.

“This has been a long battle which has brought many firms to the brink of bankruptcy. The particular circumstances of Northern Ireland make this all the more important for our indigenous industry.

Ritchie added, “I intend to table a debate on this matter at Westminster to ensure it is put at the top of the political agenda. The Quarry and construction industries are beginning to show signs of recovery. It’s important that we nurture this growth and the contribution it makes to the economy.”

Short URL: https://newrytimes.com/?p=52969

Posted by on Oct 5 2015. Filed under Politics. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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