Donnchadh Ó Laoghaire (Cork South Central, Sinn Fein) | Oireachtas source

I want to make a few brief points. This rent control proposal reminds me of the final days of the most recent Fianna Fáil Government when a Minister tried to defend that Government's performance by saying that the rate of growth in unemployment was beginning to slow. The Government has said that it intends to slow rent increases, but they have already reached unacceptably high levels. Deputy Paul Murphy made the fair point earlier that a false idea of balance on the part of those who conflate the struggles of tenants and landlords is part of this debate. It is assumed that just as tenants in the private rented sector are struggling, there is a cohort of landlords in this industry who are struggling and need some form of protection as we seek to return rents to some kind of normal levels. The reality is that landlords have been making abnormal profits and yields in recent years.

When Deputy Ó Broin spoke about yields, he suggested that because the limit proposed by the Minister in these amendments is below the current market yields, current trends will continue and rent increases of 4% will ultimately be provided for. While I take the point that there is no guarantee or certainty that every landlord will increase rent by 12%, I remind the House that when we are making legislation or policy, we do not operate in the assumption or hope that everyone will act in good faith. We should be trying to outline an absolute maximum to ensure those who have faced extraordinary, outrageous and unaffordable rent increases in recent years are protected from further increases.

Other Deputies have spoken about the events of the past couple of hours. A great deal of the responsibility for that lies with the Opposition in exile, Fianna Fáil, which has essentially obtained nothing more than a few promises and commitments.

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