Upward-only rent: the economic cost of broken promises
With retailers crumbling under the weight of upward-only rent reviews and the government's U-turn, is the 'constitutional' excuse nonsense? Ian Kehoe reports.
John Perry looked as if he wanted to be somewhere else. Anywhere else, in fact. The minister of state was trying to justify his government's decision not to abolish upward-only rent reviews, the *bÁte noire* of the Irish retail industry. Perry, however, was clearly uncomfortable.
Who could blame him? The abolition of the rental clause was a key election pledge by both coalition partners. Yet, months after forming a government, the new cabinet...
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