BELFAST BRIEFING:THE NORTH'S Minister of Finance appears to have taken Tesco's slogan of "every little helps" to heart when it comes to finding new ways of raising cash.

Sammy Wilson's latest scheme involves helping small businesses in the North by slapping a new tax on large retailers.

The "large retail levy" - or the "Tesco tax", as it is being called - is aimed primarily at big retailers, such as the British supermarket giant, which operate stores with a rateable value of £500,000 (€596,000) or more.

Wilson intends that these stores will pay a 15 per cent levy on top of their current rates bill.

It is estimated that the tax could affect about 76 properties and raise between £5 million and £7 million a year.

This in turn will finance a 20 per cent rate-relief initiative aimed at businesses operating in premises with a net annual rateable value in the region of £5,000 to £10,000.

The scheme will help about 9,000 local small businesses and retailers.

The money raised will also support a plan to encourage shop fronts or the windows of empty premises to be used for non-commercial purposes.

In an effort to get vacant premises in use again, the Minister is also giving new occupiers the chance to retain a 50 per cent empty-property relief for a year.

Wilson hopes his retail levy will be passed by the Northern Assembly and introduced by April. It will run for at least three years.

Tesco, one of the biggest employers in the North with 9,000 staff, is unsurprisingly not a fan of the proposed measure. It claims the levy is "the wrong policy at the wrong time".

The supermarket giant believes it "will be a drain on investment and business confidence, and will disastrously result over time in a much lower business rate contribution from the affected businesses than if they were encouraged to invest in Northern Ireland by removing the threat of the levy".

Tesco says the retail sector is already suffering because of "subdued consumer confidence" and that the levy will "cost jobs in Northern Ireland". It says a £6.5 million-a-year retail levy is the equivalent of more than 1,500 new retail jobs over the next three years.

"A new tax will make Northern Ireland less competitive and less attractive for investment," says Tesco, which currently pays about £12.5 million in business rates a year.

The supermarket giant is keen to stress that, if it continues with its planned investment strategy, its annual business rates bill - before the new levy is taken into account - could increase by up to £2.5 million in three years' time.

"An unstable tax base puts this investment at risk," warns Tesco, which has pointedly reminded the Minister that it has created 2,000 jobs in the North in the past five years. It has also none-too-gently hinted that, in its eyes, a large retail levy would not only hurt Tesco but also its suppliers and contractors.

"Our growth is good for Northern Ireland's construction industry. Currently we plan to spend £100 million on construction projects in Northern Ireland over the next three years. This investment is put in doubt by the tax," Tesco adds.

The superstore is not the only large retailer unhappy with the planned tax increase. DIY chain B&Q and furniture giant Ikea have also warned that the tax could put jobs at risk. Both say they face trading difficulties because of the local housing market.

The Northern Ireland Retail Consortium, an umbrella group for major high-street stores and supermarkets, says that, while it supports Wilson's plan to deliver a rate reprieve to small businesses, it does not see why other sectors should not pay for it as well.

"This burden should be spread more thinly across a wider range of businesses," it suggests.

So is Wilson being unfair? Would these large retailers be prepared to close up shop and move elsewhere?

Tesco, for one, has highlighted that Northern Ireland is competing for investment "in a capital-restricted environment with the Republic, the rest of the UK and elsewhere".

This is undoubtedly true.

But while the high street may be struggling across the North and retail parks may not be as busy as they once were, it is also clear that small businesses in towns and villages are dying on their feet.

Wilson says he wants to "create the right conditions for recovery" by rebalancing the rates system during the economic downturn.

He may not be on Tesco's Christmas card list this year but, for some small businesses and traders, he is the man of the moment.