Ulster Unionist Economy Spokesperson Diana Armstrong MLA has expressed concern that the Finance Minister’s latest update on the business rates review offers little immediate relief for struggling businesses, particularly in the hospitality sector.

Diana Armstrong said,

“While I welcome the Minister’s commitment to enhancing Small Business Rate Relief and introducing an accelerator scheme, I am deeply disappointed that the update signals yet more reviews rather than delivering tangible support now. Businesses across Northern Ireland are under severe pressure today, not in 2027 or 2028 and they need clarity and action, not prolonged consultation.”

“This week in the Assembly, I pressed the Minister to outline what real, measurable benefits the hospitality sector will see before the end of this mandate. Promises of future reviews do not ease the concerns of businesses facing rising costs in November 2025.”

“The Minister says he wants to lower operating costs and grow the tax base by bringing more businesses into the rating system. He must explain how this will alleviate current pressures rather than add to them.”

“I will say this that that it is encouraging to see a commitment to take note of the outcome of the Scottish Rates Review model where rateable values for pubs and hotels are based on turnover rather than square footage we see in Northern Ireland. This approach could deliver a fairer system for hospitality businesses here, and I would like to see the Minister move quickly on this.”

“For years, businesses have been crying out for meaningful support. My fear is that this latest update simply delays real action. VAT disparities with the Republic remain a major concern in my constituency and many border communities, alongside soaring costs of goods. The Minister must take robust, immediate measures to protect jobs and sustain the hospitality sector.”