Fianna Fáil Deputy Robert Troy has called on the Government to accelerate its plan for a new commercial rates Bill.
Fianna Fáil has made this legislation a priority and has put forward its own Bill to help resolve the matter.
“Fianna Fáil has formulated a Bill that will reduce the impact of rates valuations on businesses by putting a cap on the rate increases themselves, and allowing businesses to spread their increased payments over a five-year period, rather than frontloading it,” Deputy Troy stated.
“This will help give businesses a chance to adjust to their new valuation levels. Local authorities will not lose out as they don’t benefit from valuation increases. We will use this Bill to put pressure on the Government to come forward with its own long-awaited legislation.
“The Government has been promising a new rates Bill for a number of months but it has yet to be published. I am calling on Minister Coveney to prioritise this issue, which is affecting businesses across the country. We will use our legislation to help strengthen the Government’s proposed Bill.”
Deputy Troy added that businesses are currently undergoing a re-evaluation process and are facing increased rates of between 50 and 100 per cent.
“This is clearly unsustainable for a small business,” he said. “It also risks penalising bricks and mortar shops on main streets in towns right across the country. This is the opposite of what we need.
“Rather than hitting shops and businesses with additional costs we should be encouraging more businesses into towns. I will ensure that the forthcoming Bill does just that by using the Fianna Fáil Bill to put pressure on the Government. Now it’s time for the Minister to come up with the goods.”