Council Must Support Business, Support jobs

24 November 2015:  Limerick Chamber has welcomed the fact that the initial proposal to increase commercial rates by 4.5% was not voted through by local councillors yesterday (23 November).

Speaking about the council budget for 2016, Chamber CEO Dr. James Ring said, “Council cannot see businesses as the funders of last resort. Businesses create employment and support jobs. The local authority needs to balance its budget by reducing expenditure or broadening its income base, not see businesses as an easy option to plug the hole in overspend”.

“Limerick has gone through a very successful re-brand as an attractive location in which to do business and invest; the level of inward investment in recent months is testament to this. We cannot damage this brand by communicating a message that businesses are viewed as funders for the local authority,” continued Dr. Ring.

Dr. Ring welcomed the rates rebate scheme which he noted should “support our city high street as well as encouraging business in the rural villages and towns across the county”.

However, Dr. Ring urged caution about the messaging of a rates increase, particularly for the global corporates who support such a large proportion of employment across the Limerick region. “While the business support scheme of a rates rebate for SMEs paying less than €20,000 is welcome; if we apply national averages these businesses account for approximately 42% of employment. Our economy ultimately needs larger corporates;  not just to choose Limerick as a place to locate, but to remain committed to Limerick. Limerick Chamber is dedicated to ensuring that Limerick’s message continues to be positive,” concluded Dr. Ring.

Ends