Traders on Sheffield’s Moor Market may soon face service charge increases of over 25% to address a shortfall caused by rising inflation and energy prices. Next week, councillors will consider the increase, which would cover building running costs such as electricity, gas, water, cleaning, security, maintenance, and support costs that have remained unchanged for a decade.
The Council is currently under recovering its costs at the Moor Market, with the Council only recovering just over 65% of their costs. If approved, the increase would not take place for 12 weeks, and it would see service charges for traders rise by 26.5% in 2024/25.
Councillor Joe Otten, Chair of the Waste and Street Scene Committee at Sheffield City Council, stated, “The committee will be asked to decide what is appropriate in the circumstances we are working with. It will be a matter of judgement for committee members to strike a balance between recovering costs and supporting traders.”
Since the height of the Covid pandemic, markets are returning to being thriving and vibrant places to shop, eat, and socialize, and the Moor Market is a good example of this. The Council highly values the Moor Market and its important role in providing goods and services at reasonable prices for residents. Occupancy rates there are currently 9% higher than the national average and the Council aims to see those levels rise.
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