PBP Bring Bill To Cut Rents To A Quarter Of Household Monthly Incomes

Thursday, 20 April 2023 11:30

By Caoimhe Harney

Under the terms of the Rent Reduction Bill 2023 new accommodation will have to charge rent at 25% of monthly median household income

People Before Profit will bring a Bill to the Dail today which aims to cut rents to a quarter of monthly household income.

The Rent Reduction Bill 2023 will then be voted on it next week.

Under the terms of the Rent Reduction Bill 2023 new accommodation will have to charge rent at 25% of monthly median household income and already existing accommodation would have to charge the new rates within 12 months.

The changes would be overseen by a new National Rent Authority,

The Bill will be moved by Deputy Mick Barry shortly after 1pm today, will be debated in People Before Profit/Solidarity private members time next Wednesday from 10am-12noon and voted on next Wednesday night.

It comes in the wake of a Threshold report last year which shows that one third of renters now spend 50% or more of their net income on rent.

According to the Irish Congress of Trade Unions rents here are now 78% higher than the EU average.

Three years ago Ireland became the country with the highest percentage of household income spent on rent in the world (ahead of Portugal, Luxemburg, Israel and Switzerland).

Socialist Party TD Mick Barry said this morning that things are gone beyond the State merely aiming to slow increases in rent and that the time has come to decisively cut rents.

The Cork North Central TD commented: "High rents are having huge negative effects: they are causing real stress, they are causing poverty, they are forcing young people to stay at home with parents into their 30s and they are causing young people to emigrate.

“The case for rent reductions is overwhelming and undeniable. I will be putting this Bill forward today and look forward to a full debate in the Dáil," he said.