Statement

WEIR WELCOMES RATES FREEZE

Posted on: March 1, 2010

"I welcome the support of the Assembly for the Finance Minister's proposal to freeze the domestic regional rate, and to limit the increase of the non domestic rate to just 2.7%. This is part of a consistent and long term strategy to minimise the burden on hard pressed households. It sits alongside the capping of industrial rates, the introduction of the lone pensioner allowance, and the Small Business Rates Relief. This will be the third year in a row that the domestic regional rate has been held at a zero percent increase. With the recession biting hard on many households, it is vitally important that everything is done to ease the burden on ratepayers, and to protect the economy.

This shows the value of devolution. Under direct rule, Regional Rates went up on average 8% per annum, and in the most recent year of Direct Rule a massive 19%. Together with the prudent financial handling of North Down Borough Council, the total rise in rates in the Borough will be well under 2%. While this has been given strong support across the chamber, it is disappointing that the Alliance Party chose to be the Party of high taxation, and were the only party opposing the resolution. In a £15 billion budget, the Alliance proposals would have raised only about £7 million, thus creating the double whammy of a tax hike for households, while making very little difference to services."