Sligo County Council stands to lose more than a quarter of a million euro because of cuts in rates paid by huge multinational corporations.
That’s according to a Sligo county councillor who is calling on the government to come up with a permanent solution to the loss of income to local authorities because of so-called global revaluations.
Global Revaluations concern the rates payable by companies with a presence in multiple countries, including huge utility service providers such as the ESB and mobile phone networks.
Sinn Fein Cllr Thomas Healy says global revaluations is a fancy terms for a cut in rates for profitable companies.
The rates for these companies are set by central government rather than each individual local authority.
Cllr Healy claims big corporations such as Vodafone have got an 80% cut in rates, having made €100 million in profit.
Cllr Healy says that in 2015, Sligo County Council lost €265,375. However, it received compensation from the government of just €193,993.
He says that this year, the council stands to lose €267,375, with no compensation from central government.
He says it is ironic that profitable big businesses are being given a cut in rates while small local business has to pick up the tab.
Cllr Healy proposed that the council chief executive write to the Minister for Local Government seeking a permanent solution for the loss of income to the council.
He says the unfairness of the situation is what is worrying.
