The proposal, tabled in the context of the ongoing revaluation process, was passed at Wednesday night’s (July 3) meeting of TDs and Senators in Leinster House.
Deputy Deasy, who has alerted cabinet colleagues to the precarious position on the ground, says the message to Minister Brendan Howlin couldn’t be clearer – and insists the prospect of pushing businesses beyond breaking point can’t be ignored any longer by Government.
“We can’t sit back and allow businesses go to the wall because of rateable valuation increases introduced on our watch,” Mr Deasy said afterwards.
“There are countless examples of how this is affecting retailers in my home town of Dungarvan – a situation mirrored elsewhere in Waterford, not least in the city.
“You’re talking about petrol stations needing an annual turnover of around €1.3 million just to remain viable – or a newsagent needing to put €1.2m through the tills just to cover its €50,000 rates bill. It’s simply unsustainable.”
Deputy Deasy added: “There’s new legislation due to come before the Dáil later this year that will pave the way for self-assessment and hopefully a fairer system that reflects business realities. I’ve already called on the Taoiseach to have the Valuation (Amendment) Bill, 2012 expedited through the Oireachtas.
“In the meantime, given the knock-on effects this revaluation process will have in terms of a lower tax take, and unemployment benefit payments, in my view the Department is now obliged to examine the consequences of the current valuation review at both a micro and macro level.”