Message from business community in advance of commercial rate decision

6^th January 2015:  Limerick City and County Councillors are being urged to adopt a pro-business budget at their next meeting on the 12^th January.

Speaking in advance of the meeting, Limerick Chamber Interim CEO Dr. Orlaith Borthwick said, “The amalgamation of our local authority is resulting in a renewed focus on the economic revitalisation of our region. Economic growth can only be sustained where a healthy and vibrant business community exists. Our local authority play a key role in supporting businesses and the jobs they create.

Following the revaluation of commercial premises which took place in 2014 many businesses are feeling increased pressures to meet hikes in their commercial rates bills. The local authority must at the very minimum adopt the draft annual budget which proposes no increase in the rates multiplier for 2015.

While there has been an uplift in the economy many businesses continue to struggle and any increase in the costs of doing business imposed by our local authority will have a detrimental impact on jobs and our region’s economic growth” commented Dr. Borthwick.

Highlighting the fact that businesses already fund more than 30% of Limerick council’s income Dr. Borthwick continued “while property tax and water rates are new bills facing private households, these are a tax which businesses have paid to their local authority for years. It is projected that €53 million will be collected from businesses in commercial rates in 2015 and this money needs to be reinvested back into the local economy to support business growth and employment creation,” concluded Dr. Borthwick.

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