Speaking ahead of a briefing at the Committee for Finance considering the impact of Reval2026, Tennyson highlighted the scale of the proposed increases, which will see the rateable value of pubs soar by 70% and hotels by 80%.
The Upper Bann MLA said: “The proposed hike in non-domestic rates for pubs and hospitality businesses as a result of Reval2026 is enormous. Rising costs are already hitting businesses across Northern Ireland hard, and this additional burden will leave many with no choice but to delay investment, lay off staff, or close their doors.
“We’re dealing with a business rates system that is increasingly detached from economic reality, and yet the Minister has repeatedly dodged calls for a proper independent review to examine it ahead of this revaluation.
“It’s clear from the Minister’s statements this week that he is in denial about the impact these changes have and is completely out of touch with the pressures facing our high streets. His attempt to shift responsibility onto businesses for not providing enough data is a distraction from the failure to support firms through this process.
“Other jurisdictions have recognised the need for additional support and transitional relief. Here, businesses are simply expected to absorb the hit overnight. John O’Dowd must stop denying economic reality and start delivering meaningful reform to protect jobs, encourage investment and support economic growth.”
The Upper Bann MLA said: “The proposed hike in non-domestic rates for pubs and hospitality businesses as a result of Reval2026 is enormous. Rising costs are already hitting businesses across Northern Ireland hard, and this additional burden will leave many with no choice but to delay investment, lay off staff, or close their doors.
“We’re dealing with a business rates system that is increasingly detached from economic reality, and yet the Minister has repeatedly dodged calls for a proper independent review to examine it ahead of this revaluation.
“It’s clear from the Minister’s statements this week that he is in denial about the impact these changes have and is completely out of touch with the pressures facing our high streets. His attempt to shift responsibility onto businesses for not providing enough data is a distraction from the failure to support firms through this process.
“Other jurisdictions have recognised the need for additional support and transitional relief. Here, businesses are simply expected to absorb the hit overnight. John O’Dowd must stop denying economic reality and start delivering meaningful reform to protect jobs, encourage investment and support economic growth.”