Page 10 - Irish Examiner USA
P. 10

businessexaminer
        10



           2019  Nicola Sturgeon And Simon Coveney                   Rent Freezes Are Not The
                Vow To Strengthen Scottish-Irish Links
           13th,  bonds” between Scotland and Ireland, as a review was set up  Solution To High Prices Says
               Nicola Sturgeon has vowed to strengthen the “deep
           November  to develop the relationship.

               The First Minister made the comments as she met deputy

               The joint bilateral review will look at how the nations can
           |  Tánaiste Simon Coveney in Edinburgh on Wednesday.      Varadkar
             work together over the next five years in areas including
           EXAMINER  business and the economy, as well as in developing academ-

             ic and research links.
               It will also consider what collaborative work can be car-

           IRISH  ried out to help the rural, coastal and island communities of
             both Scotland and Ireland.
               Following the meeting, Ms Sturgeon said: “Ireland and
             Scotland already enjoy close political, economic, communi-
             ty and cultural ties, but we are committed to strengthening
             those deep bonds.
               “The Scottish-Irish health forum is an example of a collab-
             oration which shares mutual challenges and solutions, and
             there is scope to collaborate across key policy areas that
             have the potential for greater rewards that will help shaping
             our shared future.
               “The review will aid that process by consolidating exist-
             ing ties in a new international environment and unlocking
             the relationship’s further potential.”
               Mr Coveney said he hopes the countries can take their
             relationship to a “new level” in the coming months.
               He said: “Ireland and Scotland have ancient links. At the
             same time, ours is a vibrant, modern, forward-looking rela-  ents in rhe country    of people are trapped in this  less new supply.”
             tionship, grounded in shared values and common interests.    are “very high” but    high rent and misery. Surely it  He said rent pressure zones
               “Over the coming months we are doing something new   Rrent freezes are not        is  now    time   for   the  introduced in December 2016
             together, and through the review I hope we can take our  the answer, Leo Varadkar   Government to consider a     that  prevent  a   landlord
             relationship to a new level, for the mutual benefit of the peo-  has said.          rent freeze given the exorbi-  increasing rent by more than
             ple of Ireland and Scotland.” C
                                                                       According to the latest   tant levels of rent that people  4% per year are working.
                                                                    quarterly Rental Report by   are facing.”                   He said the Government is
                Win Tickets To See                                  property website Daft.ie, the  rent freeze and said increasing  committed to building more
                                                                                                    Mr Varadkar ruled out a
                                                                    average cost of renting is
                                                                                                                              social housing and the help-
              The Irish Tenors Live                                 €1,403 per month.            supply and rent controls is the  to-buy scheme is helping
                                                                                                 answer.
                                                                       This marks the lowest rate
                                                                                                                              more young people buy
              As a special promo-                                   of rental inflation since the   He said a rent freeze would  homes.
              tion for the We Three                                 second quarter of 2013, but  be “counterproductive” and     He said the Daft rental
              Kings Christmas Show                                  the average monthly rent dur-  could lead to “less new sup-  report also showed rental
                featuring The Irish                                 ing the third quarter of 2019  ply”.                      inflation was starting to
              Tenors with orchestra                                 marks the 14th consecutive      “I want to acknowledge    decrease in Dublin.
              at the NYCB Theatre                                   quarter of record rents.     that rents in Ireland are very  Mr Martin said that was
                 at Westbury on                                        Speaking during Leader’s  high.  Rents   relative  to  “nothing to boast about” and
               Saturday December                                    Questions in the Dáil, the   incomes are very high in     high rents meant younger
                14, we have five                                    Taoiseach said rents are very  Ireland and that is a real prob-  people cannot afford to save
                          pairs of tickets to giveaway.             high relative to people’s    lem, and they have become    for deposits to buy a home.
                All you have to do is send us in your name, email   wages but the main solution is  unaffordable for a lot of peo-  “You have had 14 quarters
               address and postal address together with the answer  increasing supply of houses  ple in the country, particularly  of rent increases. In 1987, a
              to the following question: In what part of Ireland was  and not rent freezes.      in our cities,” he said.     young couple would have had
                              Ronan Tynan born?                        Fianna Fáil leader Micheál   “Consideration was given  to pay 19% of their net annual
              The first five correct answers drawn on December 1st  Martin said the figures should  to  a    rent    freeze.  earnings to afford a home. Go
                         will each win a pair of tickets.           serve as a wake-up call to the  Notwithstanding the constitu-  to 2014 and you’re looking at
                                                                    Government that their hous-  tional issues that may make  30%.
             Answer: ___________________________________            ing policies are not working.  that impossible or even if it  “In terms of a deposit, a
             Name: ____________________________________                He said: “Younger people  was possible.                young couple back in 1987…
             Street Address: _____________________________          of this country have been       “And there’s a real concern  30% of their net annual earn-
             City: ______________________________________           failed and failed very badly by  about the unintended conse-  ings… that went to 50% by
                                                                    current policies. A young per-
                                                                                                 quences of a rent freeze.
                                                                                                                              2014.
             State: _____________________________________           son today is finding it is   What we may see happening      “This is the big issue out
             Zip: ______________________________________            impossible to pay these rents  in the event of a rent freeze is  there. Young people are very,
              Phone: ____________________________________           and young couples in particu-  that supply, ultimately, if you  very angry. Their parents are
              e-Mail: ____________________________________          lar are finding it impossible to  need to rent, you need to find  very, very angry.

                                                                    save deposits while paying   somewhere to rent, and why     “When we’re out knocking
                             Mail your answer to:                   exorbitant rents in tandem   the rent freeze might work for  doors and people say to you
              The Irish Examiner USA, P.O. box 474, Williston       with credit constraints.     people   who   are  renting  ‘there are five to seven people
                               Park, NY 11596                          “Clearly the rent controls  already.                   in this house because our
              You can also enter online at irishexaminerusa.com     in existence are not working.   “Because they wouldn’t see  young kids can’t afford to
                                                                       “Thousands and thousands  their rent rise, it might cause  rent’.” C
   5   6   7   8   9   10   11   12   13   14   15