Cork Chamber Disappointed With Short-sighted Local Property Tax Change

30th September 2014

Cork Chamber today expressed deep disappointment in what is likely to be a short-sighted decision by City Councillors to approve a 10% cut to the Local Property Tax (LPT) at last night’s meeting in Cork City Hall. The reduction will result in a shortfall in the region of €600,000 for the City which the Chamber has consistently said should not now be sought from the business community.

Speaking following the City Council decision Gillian Keating, Chamber President said, “Cork Chamber has continually made the point that it is incumbent on Cork City Council to ensure it continues to be in a position to allocate funds for vital services and to drive economic growth and job creation. Last night’s decision to create a shortfall of €600,000 from the City’s budget may now have an adverse effect of the Local Authorities ability to deliver those vital services.

Ms. Keating continued, “Commercial rate payers in Cork City already make up over 40% of the City Councils income each year. Cork Chamber want to make it very clear, again, that the businesses within the City cannot be expected to make up the shortfall that now exists. It is also critical that we do not see a fall in the level of services provided by the City to facilitate economic growth and job creation. We will continue to engage with all those involved to with a view to ensuring that there is neither a fall off in services nor a demand on business to make up the shortfall.”

Cork Chamber is the leading business organisation in Cork supporting and representing the interests of approximately 1,100 businesses employing 100,000 people in the region. Cork Chamber has a mandate to develop and promote policy recommendations that create an enabling business environment and support the region’s economic development.

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