Limerick City Council approves historic 5% Commercial Rate Reduction

Press Release
Wednesday, 19th December 2012
Limerick City Council approves historic 5% Commercial Rate Reduction

€250k to be allocated to a marketing fund for Limerick City,
€235k to be allocated for Limerick City of Culture 2014.

Members of Limerick City Council this evening (Wednesday) approved a historic five percent reduction in Commercial Rates in Limerick City, having considered and adopted a Budget with a total projected spend of €160m between the Revenue and Capital account.  

Mr. Conn Murray, Manager of Limerick Local Authorities said: “the decision by Limerick City Councillors to reduce the Commercial Rate by this significant amount is to be commended. It sends a clear signal that Limerick City Council is supporting local businesses and is creating an environment for further economic development”.

The Limerick Local Authorities Manager in his opening remarks to the Budget meeting stated that; “this budget has been prepared against the backdrop of the economic reality we continue to face”.  He continued; “The budget proposed to Council supports business and moves the economic agenda forward at pace. Equally important, it continues to support the communities that depend on our services and those parts of the community that we depend on to help us deliver the type of environment that we all desire”.  

In presenting the Budget to Limerick City Council, the Manager outlined that communities dependent on Council support will continue to be supported through the following commitments in the budget book for 2013:
An increased allocation of €130k in Maintenance of Local Authority Housing Units
An extra allocation of €50k for the Refuse waiver scheme with a total spend of €390k.
Additional allocation of €80k in Environmental/Community grants
Additional contribution of €50k to home assistance grants/ housing adaptation grants, which will result in the total spend in this area being equal to €2m for 2013 based on 80% funding from the Exchequer.  

Continued commitment from central Government for the Regeneration programme for 2013 as demonstrated in the Capital Budget.  

As well as the historic reduction in the Commercial Rate charge by five percent, the Manager outlined to Council features in Limerick City Council’s budget for 2013 that create a more competitive economic environment in which to do business.
They are as follows:
The establishment of a marketing fund to promote the City.  The fund adopted in Budget 2013 is €250,000.  This fund is in addition to the existing spend on festivals and other promotional events already supported by Limerick City Council.  Such provisions will be significant in 2013, and will support the national initiative of “The Gathering 2013”.
The establishment of a fund for City of Culture 2014 of €235,000 in recognition of the unique opportunity to further promote Limerick, which has been awarded this important accolade and honour for 2014.  Further announcements are due in 2013.

Mr Murray continued:
“I wish to extend my appreciation to the staff of Limerick City Council for their commitment and dedication to service despite the on going reductions in resources and on occasion what I believe to be the unwarranted negative focus placed on the public service in general.  From the payroll savings of €2.1m that have been noted in the Budget Book of 2013, it is clear that the Public Service Agreement is delivering for Limerick City Council, and this is made possible through the continued support of staff”.

Commenting on the Council’s Budget, His Worship the Mayor of Limerick City Council, Cllr. Gerry McLoughlin, welcomed the historic five percent reduction in Commercial Rates in Budget 2013.
“This will result in a great boost for the businesses of Limerick City that have been operating in difficult trading conditions over the last number of years,” he said.  “As well as the pro-business feature of the five percent reduction in the Commercial Rate Charge in Budget 2013, the marketing fund of €250k is a very welcome development along with the additional fund of €235k for Limerick City of Culture, and such initiatives will ensure the city will be an exciting place to be”.  

The Mayor further welcomed the increased allocations that will aid those most in need and the vulnerable particularly in the areas of Housing Maintenance, Housing Assistance Grants, and Community Grants.

-ENDS-

Last update:20/12/2012

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