By Laura O’Neill

A 6.50% rates increase has been agreed by the Derry City and Strabane Council. The District Rates increase for ratepayers was set yesterday at a Special Meeting of Council. The regional rate, which is set by Stormont, will be determined by the end of March. This will also have an impact on the overall rates bill for both home and business owners.

Brenda Kearney owner of the long-established D Cooley Jewellers in the town centre has voiced her concerns over the rates increase,

“It’s just more money that we have to find. It’s hard enough, costs are high enough as it is. We have been busy enough over Christmas, but we don’t know what this year will bring.”

When asked about support available to local businesses Brenda said,

“I don’t know if the council can offer any help or support, they have never approached us.

“I would like to see the council help by resurfacing the road out there. It is in a terrible state and is a safety risk for shoppers. Parking is also an issue for customers so more could be done to address that.”

Christopher Ferry the owner of Ferry Clever a relatively new city centre business has also expressed his worries but values the council’s reinvestment of funds back into high street campaigns.

“Any increase even a small one will definitely have an effect on a small independently owned business.

“Within the last two months alone we have seen a successful Derry business; Brøn shut its doors. They had done everything right, ensuring quality of food and service etc and they still faced closure.

“It is important that we work together to make small independent businesses work because if things continue there will only be Foyleside left in this town.

“I understand the pressure that our local council is under and appreciate any support such as the ‘Small spending makes a giant difference’ campaign that was rolled out last year.”

Homeowners will also be directly affected by the changes. A member of the public, Paul Hegarty said,

“Along with the cost-of-living crisis this is another bill to worry about so sadly more cutbacks will have to be made at home.”

The council say that ‘while their financial challenges are not as significant as last year, a number of challenges remain.’ They will continue to deliver ‘a full suite of critical front-line services to ratepayers.’ They have also earmarked 1.5% rates investment as part of a capital financing strategy.