Retail NI Reaction To Chancellor’s Budget

Reacting to today’s Budget statement by the Chancellor, Retail NI Chief Executive Glyn Roberts said:

“Retail NI welcomes the proposals in this Budget to support small traders during the Coronavirus crisis, such as the Government covering the first fourteen days of statutory sick pay, deferring tax payments and a temporary business interruption loan scheme”

“We also hope the reduction of interest rates will help boost our economy and promote increased consumer spending from those applicable mortgage holders”

“The freeze in fuel duty and the £210m increase in spending for the Northern Ireland Executive is also good news”

“With small businesses in England now released from paying Business Rates in England for the next year, we believe this should apply to Northern Ireland. Our members are paying astronomical levels of business rates, which are dramatically higher than any other part of the UK and desperately need this relief”

“Northern Ireland will be getting its share of this rates decrease via the ‘Barnett’ formula and it must apply to local small businesses”

“Given the Chancellor intended this rates relief as a response to Coronavirus, our Finance Minister must act on this and ensure that Business Rates relief is included in his forthcoming Budget to support local traders who are going through the same crisis as elsewhere in the UK”

Glyn Roberts 07515710517