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IDA firms in rent trap

DOZENS of IDA companies are trapped in upward-only rent reviews -- even though the Government had vowed to abolish the practice.

The IDA has upward-only rent agreements for 64 of the 73 companies to which it leases premises and means the rents paid cannot be reduced. As a result, annual rents of up to €425,000 have not been reduced, despite the huge fall in commercial rents.