FG to question Coughlan on commercial rents in Minister’s Questions today

Speaking in the Dáil during Enterprise Questions this afternoon, Fine Gael Enterprise Spokesman Leo Varadkar TD will call on the Government to bring in new measures to level the playing field between commercial landlords and their business tenants.

“Ireland is uncompetitive and costs are too high. This is driving businesses to the wall and costing us jobs. We all know that. The high costs facing businesses include high property costs. This is in spite of the fact that the cost of property has fallen dramatically since the recession began, and so have commercial rents. However, some landlords, particularly financial institutions are holding out and refusing to reduce rents.

“The landlord drove tenant farmers off the land during the great famine. The financial institutions are driving businesses to the wall during the great recession. Currently, the law favours landlords and Fine Gael is calling on the Government to level the playing field by supporting tonight’s Private Members’ Bill to abolish existing upward only rent reviews and to introduce a register of leases and side agreements, so that there is transparency about rents.

“Ireland needs a National Competitiveness Pact to bring down costs across the economy. A key element of these costs are commercial rents. The Government should not bring in rent controls or interfere in the market, but it should ensure a free and fair market is in place when it comes to rents. That means a level playing field for landlords and tenants.”