Irish election winners to face property clash

Whichever political party / parties become the new government in Ireland following the election in February 2011 it will face an early test as campaign rhetoric collides with the reality of managing a precarious economy.

In an attempt to win over the shopkeeper class, both the centre-right Fine Gael party and centre-left Labour party, which are widely tipped to form a coalition government, promised to allow a reduction in rents paid on commercial property by businesses and shops – many struggling in the continuing recession.

Ireland’s hard-pressed property and banking industry is bracing itself for a fresh battle with the country’s political leaders over the issue.

Reuters UK, 16.2.11: Threat of rent review ban hits Irish property market http://uk.reuters.com/article/2011/02/16/ireland-property-politics-idUKLDE71F14A20110216

---