December 4, 2020
Business News

Waterford faces Budget crisis as councillors reject plan to hike rates

Waterford councillors will meet again later this month in an attempt to resolve a budget crisis that could result in our local authority losing control of its finances.

Waterford City and County chief executive Michael Walsh had sought to plug a €1.3m euro hole in the council’s budget by increasing commercial rates by 5%.

Mr Walsh’s plan needs support of the majority of Waterford’s 32 councillors. Last week Labour and Sinn Féin, who are part of the controlling group on the council, proposed deferring a decision until Thursday December 12, when councillors will meet again.

In the meantime, more funding will be sought from the Minister for Housing, Planning and Local Government, Eoghan Murphy.

The Minister’s department will take control of the council’s finances if the budget isn’t passed within the next fortnight.

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