Funding hole may lead to commercial rate hikes

Businesses across the country could face hikes in commercial rates as a result of an unexpected €80 million hole in funding for some of the largest local authorities nationwide.

9th August, 2008

Businesses across the country could face hikes in commercial rates as a result of an unexpected €80 million hole in funding for some of the largest local authorities nationwide.

The shortfall in local government revenues is due to a dramatic decline in development revenues, a Sunday Business Post investigation has found. Local authorities hoping to borrow funds to make up for the shortfall may face significant resistance from government.

The Department of the Environment has...

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