To ask the Minister of Finance and Personnel how her Department is supporting small and medium sized businesses to cut their business costs.

My Department provides direct support to small and medium sized businesses by reducing their rates burden through a number of schemes.

Since introducing Small Business Rate Relief in response to the economic downturn in April 2010, 35,000 businesses have benefitted from a reduction in their rates liability. By the end of 2015/16 rating year around £100m of support will have been provided through this scheme.

Since April 2012 almost 500 businesses have been set up in empty units on our High Streets through the Empty Shops Rates Concession. This was a policy designed and put in place in Northern Ireland and then subsequently copied in all other regions of the UK. The policy sees 50% rate relief provided to new businesses in their first year of trading where they occupy a long term vacant unit.

Industrial derating, continues to provide 70% rates relief to manufacturing businesses of all sizes in Northern Ireland at a cost of around £60m per annum in revenue forgone.

In addition many business ratepayers who would otherwise have faced excessive rises in their rates bill as a result of local government reform are receiving assistance from the District Rates Convergence Scheme.

In addition to these schemes, business ratepayers have benefited from a regional rate freeze throughout the previous budget period.