The DUP has urged Stormont's former Finance Minister to explain the 'rationale' for maintaining a rates exemption for student apartment blocks which is costing the public purse around £4million annually in lost revenue
The DUP has urged Stormont's former Finance Minister to explain the "rationale" for maintaining a rates exemption for student apartment blocks which is costing the public purse around £4million annually in lost revenue.
Read more:New Northern Ireland planning applications portal "unacceptably poor" says architecture group The department proposed scrapping the exemption from 2018 but it said Stormont instability and the Covid-19 pandemic meant "it has not been possible to take this further forward". "The former Finance Minister Conor Murphy should also make a full statement on the issue so we can hear the rationale for the approach he took.
The Department of Finance said its 2016 rates review proposed discontinuing the full rates exemption for university-managed halls of residence from 2018 "to ensure consistent treatment across the student housing sector". It added: "A small number of the private sector student accommodation developments in Belfast city centre meet these conditions and are, therefore, exempt from rates under the current legislation.
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