Michael Mullins (Fine Gael) | Oireachtas source

I support Senator Sheahan. I am not inclined to link rates to turnover because I believe there should be a link between rates and profitability. One could have a high turnover and tight margins. While the Bill deals with the issue of valuations, I hope that valuations reflect the changing situation in towns that have been decimated as a result of the recession or because major multinationals have moved in and sucked the heart and life out of the town centres by establishing large supermarkets on the outskirts. I come from a town which has lost 1,000 industrial jobs over the last seven or eight years. Three major multinationals have located on the outskirts of the town and they sucked life and business out of the centre. Businesses are struggling as a result. I hope that when valuations are carried out in that town, they will reflect the significant reduction in footfall and business.

I agree with the Minister of State that it is a matter for the local authority to decide whether hardship or economic capacity should be taken into consideration. Some local authorities have shown initiative in providing incentives for certain parts of towns to attract new businesses. I hope that continues and that the newly elected local authority members will be more proactive and innovative in how they structure their finances.