IBEC Advocates Cut in Business Rates

IBEC the Business lobby group mentioned that an agreement should be drawn to make sure that any king of savings which is generated by the local authorities should directly be paid back to businesses through reductions in commercial rates.

The lobby group called for extensive reforms before the local elections coming up next month. It asked for a decrease in commercial rates and said that the amount of 1.6bn which is contributed yearly by the businesses to the local government continues to be a considerable burden and should be lessened.

Reg McCabe IBEC's head of regional policy said, "Business funds about one third of the cost of local government, through the commercial rates system and other local measures such as water and waste charges." He added, "We recognise the role played by local authorities in providing essential services, but the costs are too high and there is scope for savings."

The group also stated that between the years 2008 and 2013 the rate of commercial contribution coming from the business people has gone up from 28% to 35%.

Mr McCabe said that it is high time for some reductions to set in to permit businesses to grow well, compete and support the growth of employment.