A public consultation opened yesterday and will run until 11 November 2019, seeking views on the future direction of the business rating system.

The review was first announced in May in response to concerns about the impact of business rates on high street and town centres across Northern Ireland.

Business rates account for more than £655 million of the total £1.34 billion of rates collected by Land & Property Services every year.

Sue Gray, permanent secretary at the Department of Finance, said: “This review is about looking at the current position and making recommendations to ensure that our business rates system is effective and fair while raising the funds needed to support Northern Ireland’s key services.

“The business rates system, together with its suite of support measures, needs to be positioned to respond to changing marketplaces and local economic conditions.

“What we need now is for business ratepayers, business and trade organisations, local government and all interested parties to engage with us and put forward their perspectives, ideas and opinions.”