Doubts mount on bid to end upward-only rent reviews
THE government's plans to end upward-only rent reviews were mired in uncertainty last night, with retail sources now doubting whether legislation is likely to be introduced at all.
In letters sent to retail pressure groups in the last few weeks, Finance Minister Michael Noonan has taken up the position of NAMA, which is strongly opposed to ending upward-only rent reviews.
Justice Minister Alan Shatter is responsible for bringing in the legislation, and the plan was part of the programme for government
However, in briefings with government representatives this week, retail interests were told there were major constitutional barriers to bringing in such legislation. The Department of Justice was not available for a comment last night.
Retailers are likely to be incensed at any potential u-turn as the issue is vital to many of them suffering from what they call boom time rents.