Finance Minister John O'Dowd addresses the media at his departmental headquarters on Thursday afternoon. PICTURE: ARTHUR ALLISON/PACEMAKERStormont’s Finance Minister has stopped the controversial revaluation of business rates in the wake of intense pressure from the hospitality industry. Finance Minister John O'Dowd addresses the media at his departmental headquarters on Thursday afternoon. The Finance Minister confirmed the rates bills issued to businesses in April will continue to be based on their existing rateable value (NAV). The key issue for the hospitality sector arising from the process, known as ‘Reval 2026’, was the formula used to calculate their NAV.