Brian Cowen (Laois-Offaly, Fianna Fail)

I refer to the questions raised by the Deputy regarding employment in the country. Unemployment in the European economy is running at 10% and, unfortunately, we are at 12.5%. We will do everything we can to protect and create jobs. I assure the Deputy that were we to follow policies put forward by his party in recent years, the numbers unemployed would be far in excess of what they are today.

I refer to the specific matter raised by the Deputy. We introduced a provision prohibiting upward only rent reviews on future leases. This is contained in section 132 of the Land and Conveyancing Law Reform Act 2009, which came into force on 28 February last. Were it possible and constitutionally valid to do so, we would not wait for an initiative from the Labour Party. We would have used that opportunity to proceed with downward reviews in rent were it possible. We will have an opportunity later this evening to put forward the position as we are advised on the matter. Unfortunately, the situation is that it is not constitutionally valid to interfere in contracts in that way; that is the strong advice available to us. We will allow the debate to articulate and amplify these issues.

See this speech in context