Commercial Rates to be Cut by 20% - Demands Retail Ireland

The IBEC division representing retailers, Retail Ireland is demanding local authorities to cut down on commercial rates by a minimum of 20%, a demand first raised when a meeting had happened this month to vote on the issue. Every local authority's Chairperson has been sent a written request about the same by the group, in addition to city and county managers.

It has been shared that in excess of 30,000 retail jobs were lost over the past one year, and the sector is currently "struggling to avoid further redundancies” and the demanded move is a step in the same direction.

"Over the last decade, local authorities have been able to fund many projects through development levies and commercial rates paid by the retail sector”, said Retail Ireland director Torlach Denihan.

Official data released by the Central Statistics Office for the retail sector has confirmed that in the current year up-to September, there was 10% reduction is retail sales, but the price actually paid for a purchase fell a further 15%. In the light of these findings, Retail Ireland is asking the authorities to cut costs and ensure that not only is a stop to any more falls is initiated, but there is some damage control as well.

(Photo Source: DIT Ireland)