Paul McGrath (Westmeath, Fine Gael)

The Minister referred to real interest rates, real money and so on. An ordinary couple paying €300,000 for their house must make repayments amounting to between €1,300 and €1,500 per month. If the economy takes a downturn, the consequences for them in terms of the increased interest rates they might face are serious, not to mention the other serious consequences if one of them must give up work. Does this not conjure up grave consequences for the future of the economy? When this is factored into the take the Minister has from the building sector and the knock-on effects, will this not have to be examined seriously in the context of preparing a budget at the end of the year?

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