Tommy Broughan (Dublin Bay North, Independent) | Oireachtas source

The letter of the Governor of the Central Bank to the Minister for Finance is a pretty depressing document. It seems to be imposing straitjackets on us that are not there at present but that he wants us to embrace. I write to the Governor occasionally about the mortgage rules and I wonder about the impact of those lending rules on the construction industry or the young families in private rented accommodation who are paying huge monthly rents. They could pay a similar mortgage because they are a two-income couple, etc. Is it not the case that the Governor and the bank's policy is preventing those families from acquiring homes and is holding back the construction industry? The bank, as an organisation, is acting as a dampener on growth for the economy.