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Draft Budget Good & Bad News for Businesses 17.12.2010

The Executive has finally reached agreement on its budget for the next few years but the devil is, as always, in the detail.

The good news is that occupiers of industrial proprties will continue to enjoy a 70% discount in the rates they pay until at least 2015. 

“This is a relief for the industrial sector that needs all the help it can get for the next few years” says Tom MacLynn.

“However, the bad news for business is that the Regional Rate will increase by inflation in 2011/12 (currently 4.6%) and District Rates are also likely to increase by inflation, perhaps more, given the financial constraints being placed on Councils.”

“We must all lobby our councillors to ensure that they understand the stark consequences of placing additional costs on business in the current climate when many companies are fighting for survival – a large rates increase could push many businesses over the edge” warns Tom.

“The private sector has trimmed its costs to the bone and Councils must adopt a similar approach to their finances rather than expecting ratepayers to fund inefficient operations such as leisure centres that should be outsourced”