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Ramsey rate increase down to AAA rating loss

Fri, 17 Feb 2012

Ramsey Town Commissioners says the loss of the Island's AAA credit rating is partly to blame for a 3% rise in rates in the town.

Ratepayers will pay 342p in the pound, a 10p increase on last year.

The local authority says the loss of the top credit rating from Standard and Poors means interest on the board's loans has gone up.

The Department of Infrastructure has also put up the cost of disposing of refuse for local authorities, which the Commissioners says has contributed to the increase.

The board says it's committed to providing value for money services to the residents of Ramsey.

 

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