Maria Byrne (Fine Gael) | Oireachtas source

Last week I referred to the Threshold report and the issue of rising rents. Today we read that rents in Dublin, up to September 2017, had risen by over 11%. In my city of Limerick they have risen by 10.5%. It is frightening because the report shows that rents in Dublin city centre can be anything up to €1,800 per month. In many other cities they can be €1,100 or €1,200 per month. There is a need for a cap. Rent caps and rent pressure areas have been highlighted by the Minister, but he needs to come into the House to address the issue. The other matter I would like to raise, following on from Senator Reilly, is the signing with the European Investment Bank in Limerick on Thursday of €85 million that we are borrowing from it in the form of a low-interest loan. This will help towards the economic development of the city. It is the official signing of the contract for the so-called opera centre site in Limerick where we will have businesses and office spaces. The student population is also moving into the city centre in the form of faculties from both the University of Limerick and the Limerick Institute of Technology. I also welcome the European Investment to both Limerick and Ireland, especially on Thursday next when the contract will be signed in Limerick for what one might call this partnership between Limerick City and County Council and the European Investment Bank. I would encourage, as Senator Reilly has, many of the other local authorities to look at these low-interest loans and partnerships with the European Investment Bank.