Thousands of Cork City businesses face rates hike

Thousands of businesses in Cork city are facing commercial rates hikes of up to 2.9% under proposals being discussed ahead of the city council’s budget meeting next month.

City management proposed the hike — the first in eight years — in a bid to plug a projected deficit of €1.6m. City head of finance John Hallihan said management would prefer not to hike rates but has no other option.

“The last thing we want to do is to put up the rates but there are several factors driving this,” he said.