FERRIS - LABOUR COMMITTED TO ABOLISHING UPWARD ONLY RENTS FOR RETAILERS
Issued : Thursday 10 February, 2011
Labour’s General Election Candidate in Wicklow, Anne Ferris, has said that her Party is committed to supporting the employment-intensive retail sector by abolishing upward-only rent reviews and implementing a series of measures to help a sector that has been devastated by the economic downturn.
“I know from my involvement with the Bray Chamber of Commerce and from canvassing door-to-door the hardship that people in the retail sector are experiencing at present”, said Anne Ferris. “Here in Bray we have a very successful Shop Local initiative trying to encourage people to spend their money locally.
“However, urgent action will be required from the new Government to protect jobs, businesses, and livelihoods in the retail sector at a time when consumer confidence is at rock bottom. Labour’s Enterprise, Innovation and Growth strategy published last week committed to a series of simple measures to help boost this important sector.
“The retail sector in Ireland employs over 250,000 people, and is Ireland’s largest industry. This sector has suffered two-fold from the property bias of Fianna Fáil’s economic policy. First, it has seen its revenues plunge after the dramatic collapse of the property bubble; and secondly, it finds itself trapped in upward only boom-time leases, with recession levels of consumer demand.
“This toxic combination has resulted in the loss of 37,000 retail jobs over the past two years, and the closure of long-standing businesses in our cities, towns and communities the length and breadth of Ireland.
“To overcome this, Labour will as a priority enact legislation to abolish upward-only rent reviews for all commercial leases. As an interim measure we will appoint a Commercial Rents Ombudsman to adjudicate on rents that have the potential to cause a business to fail.
“Labour will also reform the Joint Labour Committee structure, beginning with the appointment of independent chairpersons to the JLCs.
“On planning we will retain the existing Retail Planning Guidelines and maintain the retail planning cap.
“Taken together, these measures will sustain existing retail jobs and will create the conditions for new and innovative small businesses to develop. These measures are vital first steps in helping the retail sector and sustaining local communities”, concluded Anne Ferris
