Government parties requested to see sense when Bill comes to Dail.
ISME proposal on tax breaks for tenants could be solution.
ISME, the Irish Small & Medium Enterprises Association, has welcomed the vote in the Seanad to ban upward only rent reviews in leases, proposed by Senator Fergal Quinn. The Association has been lobbying on this issue since the Government reneged on its pre-election promise to change the law, based on advice from the Attorney General.
ISME Chief Executive Mark Fielding said ''The Bill proposed by Senator Quinn is very fair and balanced and provides for a temporary reduction in commercial rent to a market level. An alternative proposed by ISME, which gives a tax break to tenants under these leases could also be examined when the Bill gets into the Dail.''
The Association called on the Government parties to take this vote seriously and examine how the spirit of the Bill can be enacted into law. This will assist SME businesses who are suffering under totally unfair and uneconomic lease conditions and who have expected the Government to follow through on their promises.
''It is time that this Government came out from behind the 'skirts' of the Attorney General and enacted legislation that is fair, equitable and will assist in the retention of jobs in the retail sector, in particular,'' concluded Fielding.