John Perry (Sligo-Leitrim, Fine Gael)

The provision for safeguarding leases in amendment No. 53 is important. It is a pity this cannot be done retrospectively because a number of such leases have been granted in the past. Is any law required to give the Minister of State powers to revoke leases that have been in place for 100 years? Properties have been leased at low rents and the lessees have subleased them for a profit. This amendment stipulates that people will in future be somewhat curtailed from re-leasing properties once the lease agreement has been signed. This is an important issue.

The Minister is well aware that significant opportunities exist in coastal communities in respect of ports which have in the past been very much neglected. The lack of development that has taken place means development companies are now proposing tax incentive deals in respect of such development. It is important that a rent review mechanism should operate in all such instances after five or ten years to ensure a clear return.

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