To ask the Minister of Finance what communication he has had with local councils to extend the timeframe for setting the rate for 2021/22 to align with the regional rate setting process.

My officials have already started to engage with counterparts in Local Government Finance Division within the Department for Communities to consider the options around adjusting the date by which the 2021/22 district rates must be set. There is currently a statutory deadline of 15th February in each year, but I am open to providing greater flexibility for Councils in light of the challenges that face us all in the year ahead due to the pandemic.

The rate setting process for the regional rate is a distinct process and is linked with the wider Budget set by the Executive. I do, however, see a great deal of value in the district rate and regional rate processes being broadly aligned both in terms of timing and in terms of their combined effect on businesses and households. In particular, I am very keen to preserve the savings provided by the Executive to businesses through last year’s Executive Budget which reduced the non-domestic regional rate by 18%. The strong message from business that there needed to be a reduction in the poundage rate was a headline finding from last year’s Business Rate Review and I am determined that we collectively act to bring that about.