THERE has been mixed reaction to news that the commercial rate in the city will be slashed when the council comes to approve its budget next week.
A five per cent cut represents the biggest drop in the charges that traders say are crippling local business. But while some welcomed any cut as a move in the right direction, other have said it’s not nearly enough.
A long-established trader in Roches street said that a cut of 25 per cent is needed to help restore balance between the city and the large shopping centres.
“Five per cent is chicken feed. What is needed in the city is a radical overhaul because footfall is diminishing drastically,” the trader told the Limerick Post.
Shane Gleeson, whose family own a number of convenience stores around the city said that he is “absolutely delighted” with the news. “We know these are hard times but we’re glad to see that the City Council is taking the difficulties we’re experiencing into account”.
Mr Gleeson said that traders look forward to a day when there is “at very least, parity between the city and the county”.
The proposed rates reduction which is the second cut in as many years, will take the city’s commercial charge to approximately 70 cent in the euro and it is the largest decrease ever recommended by city management.
Mayor Gerry McLoughlin described the draft Budget as ‘a very balanced budget’ which would result “in a significant injection of support to the local economic environment”.
He also welcomed the increase in grants for Housing Adaptation which will get a €50,000 funding boost.
Limerick Chamber chief executive Maria Kelly said the five per cent reduction in commercial rates would give a clear signal to existing and potential investors that Limerick is a competitive location in which to do business”.
