Peadar Tóibín (Meath West, Sinn Fein) | Oireachtas source

It is obvious that HMV's product offering is meeting technological changes which is making the company less competitive, but it must be remembered that HMV is still operating in England. It is believed that upward-only rent has had an effect on its ability to trade. It is interesting that another trader, Mr. John Corcoran, was forced to close a couple of weeks ago because of upward-only rents and after a long campaign and fight. Indeed, the Labour Party held a press conference in his store which launched its campaign for resolving upward-only rents. When the party went into Government, it stated the matter would need a constitutional amendment. Retail business and my party have seen legal advice stating the opposite. If the Minister states it needs a constitutional amendment, why does the Government not put a constitutional amendment to the people?

If the Minister of State believes we should eliminate upward-only rents, why does the Government not change the Constitution? We hear today there may be a need for a constitutional amendment with regard to EU patents, etc. That would represent a prime opportunity for the Government to include a constitutional amendment on upward-only rents to ensure that this extremely anti-competitive cost is reduced. It must be remembered that rents on Grafton Street are among the most expensive in the world and every other street in Ireland is a function of that. It would be a massive boost for the competitiveness of retail businesses if the Government lived up to its pre-general election promises on this.

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