Aidan Davitt (Fianna Fail) | Oireachtas source

I wish to be associated with all the nice words on the facelift the Seanad has received. A fabulous job has been done.

The Leader might remember that we discussed the revaluation of rates and the Minister said he might return to the House on the issue for 2017. The process is well under way and Mullingar is one of the towns where quite a lot of work has been done. There has been a massive shift in the way rates have been revalued and the burden has been passed to retail shops, which have had a 60% increase in Mullingar, Tullamore, Longford and other provincial towns.My good friend spoke about Navan. The increase in rates has been similar across towns. There has been a decrease of 80% in the rates applying to industrial units in Mullingar and the surrounding areas. There has been a 60% reduction in the rates applying to the hospitality sector, which has also had the bounce of the VAT reduction. As we have been told, the figures are freely available. Currently, 60% of all clothes in retail outlets in Britain are being sold online. We have to examine the rates applying to retail stores. The retailers are feeling a serious pinch. They are on their knees. Unless we want to pollute our towns with coffee shops, chippers and bookmakers, we will have to seriously examine this issue.

There is a fundamental flaw in the way the figures are calculated. They are based on stamped rental agreements, which are a not a true indication of the passing rent of a building at any given stage. They are based on the rent of a building but the passing rent is often different from an odd stamped agreement. Most agreements are not long term and, therefore, are not stamped. We will have to seriously examine this issue. The figures are available to be seen by all of us.