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To: Finance Minister Caoimhe Archibald
Caoimhe Archibald: Scrap the Rates Exemption for Big Business
Stormont’s multi-million big business giveaway and scrap the Industrial derating policy today!
Why is this important?
£73 million. That’s how much Stormont exempted companies such as Coca-Cola, Moy Park and Kingspan from paying rates last year. While the rest of us fork out an average of £1,180 per year for our household rates bill, Stormont gives big businesses massive giveaways.
This is incredibly unfair. Rates should be fully collected from multi-million pound companies and invested in shortening our waiting lists, cleaning up our polluted rivers and loughs, our struggling schools and many more. But it won’t happen if Stormont won't make them pay.
Northern Ireland is the only place in the UK that gives away money like this. The policy was abolished in England in 1963 and Scotland in 1995. And in 2003, Stormont promised to phase out the derating policy following a public consultation. But over 20 years later, Stormont is still giving away millions through this outdated policy.
We, the undersigned, call on Minister Caoimhe Archibald to scrap the rates exemption for big businesses.
This is incredibly unfair. Rates should be fully collected from multi-million pound companies and invested in shortening our waiting lists, cleaning up our polluted rivers and loughs, our struggling schools and many more. But it won’t happen if Stormont won't make them pay.
Northern Ireland is the only place in the UK that gives away money like this. The policy was abolished in England in 1963 and Scotland in 1995. And in 2003, Stormont promised to phase out the derating policy following a public consultation. But over 20 years later, Stormont is still giving away millions through this outdated policy.
We, the undersigned, call on Minister Caoimhe Archibald to scrap the rates exemption for big businesses.