Dublin rates to “soar”

Retail Ireland intends contacting the Dublin City Manager and the Lord Mayor to raise the “serious concerns” of the city's retailers on the issue.
Retail Ireland intends contacting the Dublin City Manager and the Lord Mayor to raise the “serious concerns” of the city's retailers on the issue.

A survey of key Dublin retailers by Retail Ireland, the IBEC group that represents the retail sector, found many facing an increase in their annual rates bill next year of between 30% and 80%.

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28 August 2013

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The increases are on foot of the rates revaluation process which culminated in bills being sent to many retail businesses in recent weeks and months. Rates for retailers are based on a multiple of the total market value of the premises while other sectors have rates calculated on the basis of their turnover.

"The news that the cost of commercial rates for many retailers in the city is set to soar is unacceptable,” commented Stephen Lynam, Director of Retail Ireland, “Retail sales have fallen by 25% in recent years and tens of thousands of jobs have been lost as a result. Retailers have had to keep prices low to attract price-sensitive customers, despite the fact that rents remain too high and the cost of doing business has increased.

“According to a Retail Ireland survey of eight leading city centre retailers, increases of between 30 and 80 per cent are being proposed. Such increases are not sustainable given the state of the retail market and will cost jobs. This money should be invested in store upgrades and staff numbers, not in higher local authority charges.

"If Dublin city centre is to have a thriving retail sector, it must be conscious of the need to keep costs down for retailers large and small.”

Retail Ireland intends contacting the Dublin City Manager and the Lord Mayor to raise the “serious concerns” of the city’s retailers on the issue.

However Drinks Industry Ireland understands that Dublin City Council cannot increase the total rates take, so there are likely to be winners and losers. And while the experience of the Dublin licensed trade has been mixed with some publicans getting reductions while others face large increases, it’s believed that retail and prime offices will be the major losers under the new valuations.

“The LVA is extremely concerned about potential rates increases in the licensed trade in the current trading environment,” commented LVA Chief Executive Donall O’Keeffe, “The overall rates system is unfair and is ultimately anti-business.  It takes no account whatsoever of ‘ability to pay’ and is certain to threaten the viability of some pubs and cost jobs.”

 The LVA had already met the Valuations Office on the revaluation process, he added.

Retail Ireland intends contacting the Dublin City Manager and the Lord Mayor to raise the “serious concerns” of the city's retailers on the issue.

Retail Ireland intends contacting the Dublin City Manager and the Lord Mayor to raise the “serious concerns” of the city’s retailers on the issue.

 

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