Waterford City and County Council agrees plan to spend nearly €200 million next year

Members of Waterford City and County Council have adopted a budget of almost €200 million for 2025.

The local authority says the budget, which was agreed by elected councillors, reflects a strong commitment to maintaining and enhancing essential services, addressing inflationary pressures and ensuring the long-term financial stability of the Council.

Citing the importance of a carefully considered budget, Sean McKeown, Chief Executive of Waterford City and County Council, said: "The Budget reflects our shared priorities and is shaped by careful consideration of the challenges and opportunities we face across our City and County. The services we provide are critical to supporting our communities and businesses and the quality of life enjoyed by our citizens."

The Budget for 2025, with a total expenditure of approximately €194 million, represents a 5.5% increase compared to 2024.

It provides for increased funding across key service areas

Housing: with funding for maintenance and upgrade of the Council’s 6,500 social homes increased by almost 50%.

Roads: with an additional €500,000 provided for local roads maintenance.

Tourism and Economic Development: with an additional €500,000 for cultural and tourism initiatives, including implementation of the Waterford Destination Experience Development Plan, and an additional €200,000 to promote Waterford as a business destination.

Environmental Services: with an additional €215,000 provided for street cleaning.

Recreation and Amenity: with increased funding for libraries and festivals.

For the first time, the Budget also includes €256,000 for the General Municipal Allocation, giving discretion to the elected members in each Municipal District to fund local projects and community-based initiatives.

The Budget also provides for the continuation of the Commercial Rates Energy Discount Scheme, now known as the ‘Business Pledge’ for a cleaner, greener Waterford. Eligible businesses will continue to receive a 9% discount on their commercial rates. Over 1,000 businesses have participated in the scheme this year.

Waterford is the only local authority in the country operating such an initiative, demonstrating its commitment to transforming Waterford as the most sustainable place in Ireland to do business.

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To meet the growing demands for services and rising costs, the Council approved a 3% increase in commercial rates for 2025.

However, Mr McKeown proposed a new Prompt Payment Incentive (PPI) to protect smaller rate payers paying up to €5,000 from any increase in their commercial rate demand if they sign up by May 1, 2025.  However, elected members proposed an amendment to the Budget so that the PPI will apply to all businesses paying up to €10,000 in commercial rates - equating to almost 85% of all businesses.  

It is anticipated that the increase in commercial rates will yield €1.05m in additional income for the Local Authority, while the Local Property Tax increase from 10% to 15%, which was approved in September, provides a further €557,000 towards the draft budget.

In welcoming the adoption of the Budget, the Mayor of Waterford City and County, Cllr Jason Murphy, said: “The Budget is not just a financial plan, it’s a roadmap for sustaining progress and enabling Waterford to thrive as a vibrant place to live, work, visit and do business."

"This budget demonstrates our commitment to supporting small businesses, while ensuring the financial stability needed to maintain essential services for the people and local communities across Waterford City and County."

The Chief Executive thanked the Mayor and all Elected Members for their valued input and engagement throughout the Budget negotiations.