Finance Minister Sammy Wilson today undertook a walk around of Newry City Centre, viewing plans for regeneration and development contained in the Newry Masterplan.

The Minister highlighted the Executive's support for town and city centres and drew attention to the recent rating legislation.

Mr Wilson said: "The commercial rating package, which expands the small business rate relief scheme, to be funded from a large retail levy, was introduced on 1 April. This provides tangible benefits to small businesses and in turn will help our high streets, that have been adversely affected by the downturn and continue to struggle during these difficult economic times.

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"I welcome the opportunity to hear the views of Newry traders and the concerns that many have, both here and in other cities and towns across Northern Ireland. While the downturn has impacted on all sectors some have fared better than others during that period and I know that small businesses in particular are struggling.

"The policy changes taking effect this month aim to rebalance the rating system for a finite period during the economic downturn, helping to create the right conditions for recovery, and broadly double the amount of rate relief provided to small businesses."

(CD)