Dublin Chamber says increase in commercial rates "another blow" for city centre businesses

Dublin Chamber says increase in commercial rates 'another blow' for city centre businesses

Dublin Chamber says a 3% increase to commercial rates next year will heap more cost pressure on businesses.

It comes as Dublin City Councillors last night voted in favour of the measure as part of its budget for next year.

It will also see a 10% increase in parking charges and a 36% increase to the East Link toll but council housing rents are not going up.

Graham McQueen from Dublin Chamber says a second year of commercial rate increases will hit business hard.

"Businesses already had a 1% increase last year. The deal that was agreed last night means a rise of about 3% again," said Mr McQueen.

"It is keeping more of a cost pressure on businesses who operate in the city who are already having to deal with things like Brexit, insurance increases, wage costs are through the roof as well.

"So this is another blow to businesses in the city centre."

Mr McQueen said that in isolation a 3% increase does not sound like much but says that it must be taken in the context of the other price increases that are hitting businesses.

"Ultimately what we want is a vibrant city centre, we want a place where businesses can create jobs and employment but the more costs that businesses are hit with the less chance there is for them to be able to do that."

More on this topic

Questions for Quiz as fashion chain sinks to a lossQuestions for Quiz as fashion chain sinks to a loss

New regulations for gift vouchers to come into effect ahead of ChristmasNew regulations for gift vouchers to come into effect ahead of Christmas

Luxury giant LVMH seals deal to acquire Tiffany & CoLuxury giant LVMH seals deal to acquire Tiffany & Co

Suzanne Harrington: Shooting and shopping — the next craze?Suzanne Harrington: Shooting and shopping — the next craze?

More in this Section

Economy grows 1.7% in third quarter of 2019; GDP up 5% in last 12 monthsEconomy grows 1.7% in third quarter of 2019; GDP up 5% in last 12 months

US and China ‘close to trade deal’US and China ‘close to trade deal’

Surging pound up 1.29% against the euro on election resultSurging pound up 1.29% against the euro on election result

Jim Power: Challenges are stacking up down on the farmJim Power: Challenges are stacking up down on the farm


Lifestyle

Who hasn’t dreamt of cutting ties with the nine-to-five and living off-the-grid?The great escape: What's life like off the grid?

Jazz in Europe these days exists in a highly networked environment of cultural and political bodies, festivals, promoters, musicians and educators.Jazz Connective Festival: Intriguing, exciting and uncompromising

It will be bittersweet for Stormzy that his second album arrives the day the British Labour party was confirmed as suffering a historic general election trouncing.Album review: Stormzy remains a work in progress

Unique drawings by Quentin Blake, one of Britain’s best-loved illustrators, are available at a Christie’s online auction which runs until December 17.Your chance to buy drawings by Roald Dahl illustrator Quentin Blake

More From The Irish Examiner