Why has rent been going up over the years? It is simple. It is because of a lack of supply. What we are doing now is making the decisions that bring certainty to the market and bring certainty to tenants through security of tenure. For the first time in the history of the State, we are bringing security of tenure. That is normal in almost every other country in Europe. We are doing these things to drive the supply. That is what this about. If you do not get more supply, rents are never coming down. Rents are only going in one direction. They will go up and up unless we increase the supply of apartments and homes across this country. We are already seeing the momentum coming back behind the decision I have announced I am making. We are seeing an increase in commencements and seeing an increase in the applications for planning permission.
There is a kind of short-term populism of Members are pretending are defending the tenants. For me, renters are not just people who renting right now; it is all those people who are at home and who need somewhere to rent. By driving supply, you provide the accommodation for people to be able to move out, but you also drive down the rents.