Oireachtas Joint and Select Committees

Wednesday, 8 March 2023

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

Investment Funds: Discussion

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I appreciate the work of MABS. We encourage people in energy difficulty to engage. We acknowledge that some of the big energy providers have ring-fenced a fund, which is under the administration of MABS, to support some of their customers who are financially vulnerable. In fairness to Bord Gáis, it would not know if it was me or Deputy Durkan who was struggling with our gas bill. It does not have that information. However, these vultures have the exact information. They have the standard financial statement. They know that this family can afford €500 less than what they are charging. They agreed that figure and they continue to increase the interest rates. That is where the difference is here. I have loads of similar cases. Is it not startling to hear of repayments going up by €500 a month? People did not believe it. They thought the annual increase was €500. This is €6,000 and €7,000 extra on mortgages.

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