Council cuts commercial rates by 5%

Limerick City Council last night approved a 5% cut in commercial rates for the city, a move described as a great boost for businesses.

The cut formed part of a council budget with a total projected spend of €160m.

The budget also includes the establishment of a marketing fund to promote the city, with €250,000 to be invested in 2013 and a further €235,000 for its City of Culture 2014 fund.