Oireachtas Joint and Select Committees

Wednesday, 14 September 2022

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Banking Issues: Discussion

Photo of Mick BarryMick Barry (Cork North Central, Solidarity) | Oireachtas source

I have a question for whoever wishes to answer. I want to talk about the closures but before that I will talk about the main topic of conversation in this country today which is the costs of living and people's concern about what will happen with their mortgages in the context of interest rate increases. It would be fair to say that there is the potential, in terms of mortgage hikes, for this matter to become, alongside energy, the single biggest area of concern, one even above the extras that people are being forced to fork out for food and the other necessities of daily life.

We have seen some ECB increases and we have seen the response from the banks here. However, no one is under any illusion that these will be the last of the increases. We could be looking at a series of increases over a relatively protracted period. What is the policy and approach of AIB towards either absorbing these increases or passing them on?

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