Finance minister to consider alternatives after business rates process halted

Stormont Finance Minister John O’Dowd has said he will consider alternatives after halting a proposed revaluation of business rates in Northern Ireland.

The Reval 2026 had sparked a backlash from many within the hospitality sector who had said they were facing higher rates bills.

It was cancelled last week after draft property revaluations published by land and property services indicated some businesses were facing hugely increased rates bills.

In a statement to the Assembly on Monday, Mr O’Dowd said he is in “listening mode”.

“Stopping this process allows space for sectors to provide the much-needed evidence to allow a full examination of the issues raised,” he told MLAs.

“I am in listening mode and will take time to consider the next steps.

“I met with hospitality representatives on Thursday, I will look at any alternative methodology proposals that people want to offer.

“These need to be transparent and fair to every ratepayer and meet the need to support public services and the wider economy.”

Opposition leader Matthew O’Toole responding describing a “fully blown u-turn”, claiming that last week Mr O’Dowd had “arrogantly dismissing concerns from across the House”.

He questioned why the process had not been halted earlier, or proposed with a transitionary process to avoid what he termed a “chaotic situation”.

Mr O’Dowd responded: “The important point is where we are now, and I have listened to the concerns of elected representatives, I have listened to the concerns of the hospitality sector, and I have stopped the Reval process.”