Seanad debates

Wednesday, 10 October 2012

Adjournment Matters

Upward-Only Rent Reviews

5:40 pm

Photo of Mark DalyMark Daly (Fianna Fail) | Oireachtas source

I know. However, one must be destitute, in a commercial sense, to be in NAMA and then one might get a rent reduction. There is no legislative requirement for upward-only rent reviews in leases, as was said in the Minister's reply. However, it was stated in the manifesto that there would be legislation against this.

I thank the Minister for coming to the House to clarify the issue. It is unfortunate for politics that things are included in manifestos that are not researched and if they were researched, it just makes people cynical that the attitude is: "We will put it in even though we know we cannot do it." Perhaps the Minister will convey the message to the Minister for Justice and Equality that despite the fact it was removed from the last budget and deemed to be not doable, he might consider it this time. Commercial retailers are on their knees and they need help from the Government.

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