Finance Minister Conor Murphy of the Northern Ireland Executive has updated the Assembly on the Draft Budget and additional funding.

Minister Murphy said he intends: “to proceed to freeze both domestic and non-domestic regional rates next year, which will help with the rising costs faced by families and businesses. Unfortunately I cannot extend this to the three years as previously intended.

“I will also progress with the £50 million rate relief package to support a rates holiday for businesses. This will provide a three months rates holiday for retail, tourism, hospitality, leisure … which are the sectors hardest hit by the pandemic. A one month rate holiday will be provided for all other businesses, except utilities and larger food stores.”