Simon Coveney (Cork South Central, Fine Gael) | Oireachtas source

We have looked at the Deputy's proposal, but it is not as easy as it might seem. When a lease is signed that does not contain a mechanism whereby the level of rent can be reduced - it must stay as it is or increase - it is not straightforward from a legal point of view to reduce that rent. In order to ensure both sides do not have to go through the cost and hassle of the process of arbitration on the agreement of valuations and rents, etc., I have decided that the easiest way to proceed for the moment is by simply not having reviews. That gives tenants some certainty that their rents are not going to increase. I think it is a reasonable response in the circumstances.

If there is a case to be made that we are overcharging for rent, we need to look at that. However, whenever rent reviews have been carried out, there have been recommendations for rent increases, and I do not believe that is appropriate given the pressures many businesses are under at present.

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