Simon Coveney (Cork South Central, Fine Gael) | Oireachtas source

A number of Deputies have raised the calculation formula that is being used to set the 4% maximum limit on rent increases within rent pressure zones. Deputy Ó Broin raised it initially and Deputy Curran raised it subsequently. Deputy Shortall and one or two other Deputies raised the issue as well and asked for clarification on it. An understandable interpretation of the calculation, as it was previously written in an amendment in my name, was that a definition that provides for a maximum increase of 4% annually since a tenant's last rent review creates the potential for a rent increase of higher than 4% to be specified the first time the rent of a tenant in a rent pressure zone who has not had a rent review for two years is reviewed. It has been suggested that if an increase of 4% per annum is permissible, an 8% increase could be imposed on a person who has not had a rent review for two years. That, of course, was never the intention. I am anxious to correct this drafting error. I have asked the Ceann Comhairle for his indulgence to amend my amendment, which I am allowed to do. We can deal with the amended amendment formally when we reach it tomorrow. I wanted to explain it now because it deals with an issue that has been raised by a number of Deputies. I thank the Opposition for its help in raising this error and giving me an early opportunity to correct it.

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