Michael Kennedy (Dublin North, Fianna Fail)

I welcome the opportunity to speak on this Bill. We all realise the value of small businesses and retailers to the economy as they account for approximately 250,000 jobs. Like other speakers I have concerns about the big institutional banks and insurance companies who drive rents upwards. I acknowledge they are in business to make a profit but in the current context, they have a social responsibility. They should recognise that our economy is going through troubled times and endeavour to facilitate their long-standing clients, their tenants. Politicians should encourage them in every way to be realistic about rents. It is not much good for them to close down a business and have vacant premises. It has been commented that NAMA is responsible for some of these upward rent reviews and this is not the case. NAMA has neither an impact on nor regulatory authority for rents.

Legislation on upward rent reviews has been enacted but this cannot be changed retrospectively in the case of existing leases, which is a significant difficulty. In my view, landlords have a social duty to try to accommodate their tenants in the short term until the economy moves out of the current downturn. Rents should be based on the turnover of a retail unit. This is a more equitable way. If a business is doing well, the landlord will gain if a percentage of turnover is agreed as rent. I will make this suggestion to the new review group. The Minister for Justice, Equality and Law Reform has taken the right approach by setting up this review group and all interested parties, including Departments, will have an input. The deadline for the report is 30 June 2010 and this is welcome. I am sure all Members will look forward to the report.

I take issue with Deputy Ciarán Lynch, although I congratulate him on his work on the Bill. I heard him speak on RTE radio this morning. He was asked a simple question as to who are the legal advisers to the Labour Party but he refused to answer. At the same time he is decrying the advice of the Attorney General to the Minister-----

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