Oireachtas Joint and Select Committees
Thursday, 21 February 2019
Public Accounts Committee
2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 34 - Housing, Planning and Local Government
9:00 am
Mr. John Hannigan:
Yes. The issue is not that they are at market rent - there is a subtle issue here - but that they are linked to a market mechanism. If rents are charged that are 40% to 60% below market rates but are dependent on market movements, as they are at this time under the payment and availability agreement, every three to four years they will be marked to the market and whatever is happening in the consumer price index or the market index-----
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