Rates rise - taking from the rich to give to the poor, the new Stormont Robin Hood plan?

Nov 23, 2016, 10:22 AM
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Around 7,000 households in Northern Ireland will face higher rates bills under a proposal from the Finance Minister Máirtín Ó Muilleoir. The proposal would see the most valuable properties in Northern Ireland getting charged higher rates. The Minister said it forms part of "the biggest shake up in rating policy in a generation." Currently if a house has a rateable value above £400,000 its rates bill is assessed as though it is valued at £400,000. The Minister is proposing to change the system so that rates are now levied on the portion above £400,000. That would raise around £4.5M for the Executive. Vinny spoke to Máirtín Ó Muilleoir and DUP MLA Emma Little Pengelly - Committee Chair Committee for Finance.