Seán Sherlock (Cork East, Labour) | Oireachtas source

The memorandum of understanding, MOU, signed by the troika introduced the property tax. Fianna Fáil negotiated agreement with the troika, which is a sovereign agreement. I do not know the Deputy’s position on the property tax but it should be a significant revenue stream for local authorities and should redress the balance in terms of the burden over many decades that has been placed on businesses in regard to the annual rate of valuation. It will be an opportunity, for instance, for councillors of the Deputy’s party to have a clear policy document and prerogative on how it would be implemented at municipal or local authority level. I look forward to seeing some of those ideas within my own local authority, Cork County Council.

The cost of parking is competitive in most towns around the country because there is good interaction between business and local authorities and many businesses are represented on local authorities. The issue is how one regenerates towns. I accept Deputy Troy’s point about energy costs, rates and ability to pay but the singular issue relates to demand. It will take some time to reverse the economic morass in which we find ourselves, such that we can create the jobs to ensure a sufficient level of retail demand. The approach is demand led. I acknowledge the points made about coming forward with ideas for empty shops but because of property rights the local authority cannot force specific types of retail activity into specific areas. It is a difficult thing to do.

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