Newry was home to two significant economic events (April 3) that highlighted the influence that the decisions of government – good or bad have over the private sector. At 7.30am over 200 delegates most of whom work in the private sector attended local accountancy firm FPM’s post budget breakfast in Newry Omniplex where speakers including CBI chairman Ian Coulter, Chartered Accounts Ireland Director of Tax Brian Keegan and FPM’s Feargal McCormack, Janette Burns and Paddy Harty outlined the implications the London government’s decision will have on local business. Later that day Stormont Finance Minister Sammy Wilson pounded the pavements of Newry City Centre to view the ongoing Environmental Improvement Scheme as well as hearing about trading conditions in the city from business people. Minister Wilson also used the visit to publicise the implementation off a new small business rates relief scheme that he believing es could benefit up to 920 businesses – 445 of which are inn Newry City. According to Minister Wilson the average saving for these businesses is, ‘in the region of £750 per year. Speaking to the Reporter Minister Wilson acknowledged that whilst trading conditions are challenging various groups are working together to improve matters. “Rates are only one element to physical regeneration through the councils by shop keepers and businesses,” he said. “It is about reducing over heads, improving infrastructure and providing what people want, identifying niches in the market and identifying ways of getting people into town centres. There are also four or five government departments working to address the problem.” The minister also paid tribute to Newry Chamber of Commerce and Trade and Newry and Mourne District council for their efforts for their efforts in regenerating the city centre. ” I’m impressed in the way the council and the chamber and the traders want to improve the town,” he said. “They have asked me to come down and see the extent of problems in the town centre with derelict buildings. Obviously we have responded already with things like changes in the rates scheme by reducing by 20 per cent the rates small businesses pay. There is also a 50 per cent rate relief on empty buildings that are brought into use to try and get fledgling businesses in and keep their overheads down for the first year.”
Newry Reporter
11th April 2012
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