Ms Anne Marie Caulfield:

Yes. Having to increase turnover by 5% to pay commercial rates before one does anything else and at a time when the retail sector is under severe pressure is untenable and unacceptable. It is said the revaluation process in Waterford is inequitable and needs to be deferred and re-examined because it is not viable for many businesses.

In summary, IBEC would like to state on behalf of businesses, particularly those involved in the retail sector, that the position on commercial rates is inequitable and that the system is flawed and needs to be addressed. I have highlighted the other areas we would like to be considered such as the standardisation of rates, the rates refund mechanism, how rates are spent and how they benefit businesses. All businesses have had to reposition, manage and reduce costs.

It is very painful and challenging. We do not appear to have seen the same with commercial rates.