Cork County Council this week approved a budget for 2023 which will see commercial rates rise by 3.5%, but the good news for hard-pressed businesses is that the 3.5% rates hike will apply only to businesses which pay more than €7,000 per annum each year, and for that reason about 85% of businesses will not have to pay any rate increase. Labour Party Cllr James Kennedy welcomed the fact that many businesses won’t have to pay extra rates in 2023, and added that the Labour Party, Fianna Fáil and independents negotiated with council management to ensure that more businesses would not have to pay the rates increase. The budget for 2023 was approved on a 33-19 vote, with Fine Gael refusing to give its support. Fine Gael Councillor John Paul O’Shea defended his party’s position, saying that Fine Gael was not convinced that a rise in rates was prudent at a time when small business owners were dealing with energy cost hikes of 200%.
The Budget for 2023 amounts to a record €403 million, an increase of €31 million for the current financial year, and the good news for advocates of the Mallow Relief Road is that €10.8 million has been allocated towards the project. Cllr. Kennedy welcomed the allocation, saying that the money will advance the road. The councillor also welcomed news that there would be extra outdoor council staff allocated next year.
Cork County Council Chief Executive Tim Lucey said the council was facing soaring costs and needed an increased budget if it was to maintain vital frontline services to an expanding population.
Housing is a key priority of the budget, with social housing receiving €332.96m; €86.34m for affordable housing is estimated; and €164.95m for voluntary housing.