Businesses in Limerick have welcomed the news of a second annual rates freeze announced by the council.

Announcing details of the Council's Budget for 2009, the Limerick County Manager confirmed that the commercial rate for 2009 would remain at the 2007 level.

Ned Gleeson said that the decision would play an important role in sustaining existing jobs, and ensuring that Limerick remained an attractive location for investment.

He said: "Faced with the most challenging economic climate in a decade, extremely difficult decisions had to be made. In making these difficult choices I have been guided by a number of factors including the need to maintain essential services, statutory obligations that the council must meet, direction from government with regard to pay and non-pay items, and the need for the council to give a lead in protecting employment and measures to enhance the council's economic performance."

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Mr Gleeson pointed out that the current Annual Rate on Valuation is one of the lowest of the thirty-four County and City Authorities in the country, as well as being the lowest in the Mid West Region.

The total estimated expenditure included in the Draft Budget for 2009 amounts to €125.892 million. This level of expenditure will be financed from Grants and Subsidies (30.85%), Goods and Services (27.57%), Commercial Rates (21.17%) and Local Government Fund Grant (20.41%).

Commenting on the Budget, Councillor John Gallahue said it was a very significant achievement to be freezing rates for a second consecutive year, and the property tax rate for the County was similar to 2007.

"I am especially pleased that the upgrade programme for public lighting, traffic calming and road signage would be continuing in 2009," he added.

Councillor Gallahue noted that significant progress had been achieved in 2008. "Furthermore, I am glad to see that the three-year capital programme for 2009, 2010 and 2011 will see further infrastructure improvements to a value of almost €400m over the three-year period," added Mr Gallahue.

(PR/JM)