Finance Minister John O'Dowd has confirmed that the Small Business Rate Relief, Back in Business, and rural ATM exemption schemes will be extended for the 2026/27 financial year.

The announcement followed an Assembly debate on Tuesday regarding the measures intended to bolster the local economy.

The extension of the Small Business Rate Relief scheme ensures that approximately 30,000 businesses will continue to receive reductions of between 20% and 50% on their rates bills. This continuation remains in place while the outcomes of consultations on potential enhancements to the scheme are being considered.

Minister O'Dowd stated: "Small businesses are the backbone of our local economy, creating jobs, helping grow our economy and supporting workers, families and communities. The extension of Small Business Rate Relief for a further year means that while consultation outcomes on enhancements to the scheme are considered, we will continue to provide around 30,000 businesses with reductions of between 20% and 50% on their rates bill." The Minister also indicated plans to expand this support, noting: "Importantly, on completion of the Budget process, I will also be making the case for further broadening of this key small business support measure to increase the scope of the small business rate relief and the overall number of recipients for 2026/27, utilising the £10million set aside in my Draft Budget proposals for this. I want to see more support directed to businesses that provide vital employment and sustain workers, families, and communities."

The Back in Business scheme, which encourages the occupation of long-term vacant high street units, will also proceed. Since May 2024, the initiative has supported 113 businesses with over £600,000 in rate assistance. Additionally, the rural ATM exemption has been retained to protect access to cash in areas facing a decline in physical bank branches.

Alongside these support measures, the Assembly approved Regional Rate increases. Domestic properties will see a 5% rise—amounting to an average increase of 63p per week—while non-domestic rates will increase by 3%.

Minister O'Dowd explained the necessity of these funds: "Rates play a vital role in funding public services such as hospitals, childcare and schools, as well as many other essential services. The Regional Rate agreed is expected to raise just over £900million in the forthcoming financial year. Keeping the domestic uplift at the same level as last year is in recognition of the cost of living pressures felt by many households. Keeping, and setting, the non-domestic rate at a lower level, a below inflation increase at the time it was agreed by the Executive last month, reflects the pressures facing local businesses and their vital role in supporting jobs in our local communities and driving local growth."