Mick Barry (Cork North Central, Solidarity) | Oireachtas source

The Taoiseach is reported in the press this morning as saying families should brace themselves for the pain. The stand-off between NATO and the Putin regime brings more bad news for hard-pressed households. The price of European wholesale gas was up 10% yesterday. Commodity economists in London are saying crude oil could reach $120 to $140 per barrel. We all know whose shoulders this is going to be placed on. However, there is profiteering taking place in Irish society. These are not just acts of God. Yesterday, I gave the example of Musgrave Group's €98 million profit. What is going on there? This morning, IRES REIT is reporting rental income for last year of €63 million. It is the biggest of the ten largest landlords in the State, which own 17,000 rental properties between them. IRES REIT is eying rent increases. It says its rents are "approximately 9.4% below market rent indicating further opportunity in the medium term". Those are further opportunities for rent increases and maximisation of profit.

I have just received a message from my local radio station saying the Minister for Housing, Local Government and Heritage, Deputy Darragh O'Brien, was on Newstalk this morning and talked about having to look at the tax treatment of landlords in the budget this year. He was not talking about more tax on landlords but tax breaks for landlords. I have a direct question for the Minister for Finance. I will not be in the Chamber to hear his reply but will be listening with interest from my office. Will he take the opportunity of this debate to rule out any idea of more tax breaks for landlords in the budget in autumn? We need breaks for working people and ordinary people and not for the landlords who have been doing so well over the last number of years.

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