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More government promises broken on upward only rent reviews – Peadar Tóibín TD

12 May, 2014

Sinn Féin spokesperson on Jobs, Enterprise and Innovation, Peadar Tóibín TD, today described the government’s refusal to tackle upward only rent reviews as committed to in the Programme for Government as yet another broken promise.

The Meath TD called on the government to publish the detail of the Attorney General’s advice warning that tackling upward only rent is unconstitutional and for the Jobs Minister to urgently engage with business representative groups.

Deputy Tóibín said:

“Over two years have passed since I introduced emergency legislation which, if supported by the government parties, would have put an end to upward only rent reviews.

“When negotiating the Programme for Government, Labour and Fine Gael committed to introduce legislation to end upward only rent reviews for existing leases.

“In advance of the 2011 election both parties make a commitment to struggling businesses that if elected they would address the inequity of upward only rent reviews.

“Not only has government reneged on this commitment both the Jobs and Justice Ministers have refused to constructively engage with opposition or indeed business representative groups on the matter.

“It is an accepted fact that commercial leases are out of step with the EU average and businesses across Ireland have been left with boom time leases that are artificially high.

“Sinn Féin holds the position that ending upward only rent reviews will correct the commercial property market, deliver jobs and create savings for the public sector as the largest tenant in the state.

“It is time now for government to publish the legal advice that informed its decision to row back on ending upward only rent reviews.

“I am also calling on the Minister for Jobs, Enterprise and Innovation to urgently meet with representative groups to hear how failure to tackle upward only rent reviews is hindering economic recovery.”

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