Oireachtas Joint and Select Committees

Thursday, 17 November 2022

Public Accounts Committee

2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund

9:30 am

Photo of Brian StanleyBrian Stanley (Laois-Offaly, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

I might ask Mr. John McCarthy his opinion as an economist. Does he have a concern in the context of mortgage rules about the change allowing people to borrow not up to 3.5 times their annual gross income but up to four times? Obviously, it means there will be more money, although it might also mean fewer people will get be able to get loans if house prices keep increasing. In the first instance, it is fair to say there will be more money out there, with more money on loan from institutions. Is Mr. McCarthy concerned about the effect on house prices and the economy whereby it may push them up artificially?