Minister John O’Dowd announced he would be stopping the Reval 2026 process following a public outcry, adding he would now consider the next steps.

“This will offer some much-needed relief for businesses, but also lays bare how cack-handed and muddled the Minister’s approach has been from the beginning,” said Alliance Deputy Leader Mr Tennyson.

“Many hospitality businesses were left contemplating their future because Sinn Féin ploughed ahead with a move that was clearly unworkable. The overwhelming public outcry, from businesses and people right across our society, has now forced them to listen.

“It was completely out of touch to think such dramatic rate hikes could be imposed on an already struggling sector without any planned relief, support package or even a basic understanding of the pressures facing hospitality.

“This stopping of the process must now be used to fix the underlying problems. We need a full, independent review of the business rates system, proper sectoral relief and a clear plan to restore confidence and stability.

“Businesses deserve a system that is fair, progressive and which supports economic growth.”