Government Drops Use it or Lose it Clause for Developers in New Planning Bill

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The Irish government has removed a use it or lose it clause from the new Planning and Development Bill, according to a report by The Business Post. The clause would have required developers to build homes on their owned land within a certain timeframe or risk losing planning permission. The omission of the clause is seen as a victory for developers and a reversal of housing minister Darragh O’Brien’s previous commitment to its inclusion. The Department of Housing stated that it is focusing on other measures to prevent developers from hoarding planning permissions.

Ian Brown, the CEO of Flutter’s Irish and UK operations, has warned that proposed laws banning pre-watershed gambling advertising could have a detrimental impact on the horse racing industry in Ireland. The provision, if enacted, could potentially lead to a decline in horse racing and breeding, both of which employ a significant number of people in rural areas. Brown suggested that the Department of Justice should make amendments to the legislation to avoid these unintended consequences.

Investment firm Dunport Capital Management is seeking to raise €500m ($589m) for its largest fund to date, The Sunday Times reports. The fundraising will support the company’s expansion into Belgium and Luxembourg, as well as its continued efforts in Britain. Additionally, up to €200m ($236m) in credit will be offered to businesses in Ireland. Dunport specializes in providing finance to lower mid-market companies with funding requirements ranging from €3m ($3.54m) to €50m ($58.9m).

At the AI Safety Summit in Bletchley Park, tech entrepreneurs and industry leaders are gathering to discuss how Europe can produce tech giants that rival those from the US, specifically in the field of artificial intelligence. While Europe leads in various sectors such as fashion and pharmaceuticals, it lags behind the US in terms of its tech industry. The summit aims to explore the potential breakthroughs and possibilities of AI in Europe.

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Through the above news articles, it is evident that the Irish government has made significant decisions regarding planning laws, the gambling industry, and investment opportunities. These developments have the potential to impact multiple sectors, including housing, horse racing, business growth, and the advancement of the European tech industry.

Frequently Asked Questions (FAQs) Related to the Above News

What decision did the Irish government make regarding planning laws?

The Irish government removed a use it or lose it clause from the new Planning and Development Bill, which would have required developers to build homes on their owned land within a certain timeframe or risk losing planning permission.

Why is the removal of the use it or lose it clause seen as a victory for developers?

The removal of the clause is seen as a victory for developers because it eliminates the requirement to build homes within a specific timeframe, giving them more flexibility in developing their owned land.

Who warned about the potential negative impact of proposed laws banning pre-watershed gambling advertising?

Ian Brown, the CEO of Flutter's Irish and UK operations, warned about the potential negative impact of proposed laws banning pre-watershed gambling advertising, specifically on the horse racing industry in Ireland.

What potential consequences does the CEO of Flutter suggest the Department of Justice should avoid?

The CEO of Flutter suggests that the Department of Justice should avoid unintended consequences such as a decline in horse racing and breeding, which employ a significant number of people in rural areas.

How much money is investment firm Dunport Capital Management seeking to raise for its largest fund to date?

Investment firm Dunport Capital Management is seeking to raise €500m ($589m) for its largest fund to date.

What sectors does Dunport specialize in providing finance to?

Dunport specializes in providing finance to lower mid-market companies with funding requirements ranging from €3m ($3.54m) to €50m ($58.9m).

What is the purpose of the AI Safety Summit in Bletchley Park?

The purpose of the AI Safety Summit is to gather tech entrepreneurs and industry leaders to discuss how Europe can produce tech giants that rival those from the US, specifically in the field of artificial intelligence.

What sectors does Europe lead in, and in what sector does it lag behind the US?

Europe leads in various sectors such as fashion and pharmaceuticals, but it lags behind the US in terms of its tech industry.

Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.

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