Tuesday, 19 February 2013

Questions (563)

Stephen Donnelly

Question:

563. Deputy Stephen S. Donnelly asked the Minister for Justice and Equality further to Parliamentary Question No. 469 of 22 January 2013, if he will share all analysis and data referred to excluding any legal advice, which his Department considered before deciding not to proceed with legislation to address the issue of upward only rent reviews; and if he will make a statement on the matter. [8434/13]

View answer

Written answers (Question to Justice)

The reply to Parliamentary Question No. 469 of 22 January 2013 did not refer explicitly to analysis or data. Nonetheless, in the interest of transparency, I am happy to give the Deputy some information on this point.

During the period of development of the proposed legislation regard was had to written and oral submissions and analytical data on the general issue of upward only rent reviews from a variety of sources. These included the Society of Chartered Surveyors, Jones Lang LaSalle, DKM Economic Consultants, Retail Ireland, Retail Excellence Ireland and the Irish Association of Investment Managers. Some of the views referred to were published by the organisation concerned. In a very limited number of cases views were made available to me on a confidential basis, and I have no plans to put the latter into the public domain. Also borne in mind was the content of the considerable volume of correspondence received from individuals and businesses who generally espoused the views of the retail sector. Additionally, my Department had available to it an economic analysis of possible policy options in relation to the proposal to abolish upward only rent review clauses in existing leases which had been prepared by the Department of Finance and which formed part of the deliberative process in the context of the Government's consideration of the matter.