Parliamentary.ai

Overview

This bill sets the regional rate for Northern Ireland for the year ending 31 March 2020 and amends the Renewable Heat Incentive (RHI) Scheme Regulations 2012. Key changes include setting specific rates for regional taxes and introducing voluntary buy-out arrangements for participants in the RHI scheme, particularly addressing issues surrounding small and medium biomass installations.

Description

Regional Rates

The bill sets the regional rate for the year ending 31 March 2020 at 34.01 pence in the pound for rateable net annual values and 0.4574 pence in the pound for rateable capital values. The Department can vary these rates after all Ministerial offices are filled following the bill's passing.

Renewable Heat Incentive (RHI) Scheme Amendments

The bill amends the RHI scheme regulations. It introduces new tariffs for small and medium biomass installations (Schedule 5), with tariffs adjusted annually based on the Consumer Price Index. It also establishes voluntary buy-out arrangements allowing participants to receive a payment in exchange for ending their participation in the scheme. These buy-outs can only be offered while there is no functioning Northern Ireland Executive. The Department must report annually on the operation of these buy-out arrangements.

Government Spending

The bill doesn't directly specify the total government spending. However, the introduction of voluntary buy-out arrangements for the RHI scheme will likely result in increased government expenditure to compensate participants. The exact amount will depend on the number of participants who opt for the buy-out and the individual amounts determined.

Groups Affected

Groups affected include:

• Ratepayers in Northern Ireland: Affected by the regional rate set by the bill.
• Participants in the RHI scheme: Potentially affected by the amended tariffs and the availability of voluntary buy-out arrangements.
• Northern Ireland Executive: The power to vary rates and implement the buy-out arrangements is affected by the Executive's functionality.
• UK Parliament: Receives reports on the operation of the buy-out arrangements during periods when the Northern Ireland Executive is not functioning.