Supreme Court ruling highlights need for Govt action on rents – FF

Fianna Fáil Spokesperson on Jobs and Enterprise Dara Calleary has said the Government cannot wait any longer on taking action to tackle upward only rents.

Deputy Calleary has described today’s Supreme Court ruling in relation to rent at Bewley’s on Grafton Street as “extremely disappointing and a major setback for businesses generally.

“A lot of businesses were watching this case closely following last year’s High Court ruling. Upward only rent reviews continue to plague a lot of businesses and it is making it very difficult for a lot of them to stay in business which is ultimately threatening jobs.

“Fine Gael and Labour were elected on a promise to tackle upward only rents and they have utterly failed to act. There is a very good Bill on this issue from Senator Fergal Quinn which passed in the Seanad and remains on the Order Paper. If offers a potential solution and the Government should allow this legislation to come before the Dáil. Thousands of jobs are being supported by businesses that are struggling with high costs and they need relief.

“I was very surprised to NAMA supporting the Supreme Court appeal. The fact that a State agency would stand over a case with such far reaching consequences for many businesses while the Government stands on the sidelines is totally unacceptable. The Government needs to be creative in trying to resolve this problem. That could include an additional tax allowance to mitigate the impact of high rents but I really think upward-only issue needs to be tackle to the market can regulate its and businesses can be freed from this burden.”