Kieran O'Donnell (Limerick East, Fine Gael)

It is generally felt that rates are due to fall early in the new year, yet the Minister is providing for increases from 4.5% to 5.5% for home loans, and also from 12% to 13%. Will this be an annual measure? Will the Minister clarify this before Fine Gael makes a decision on her position? Fine Gael feels that if interest rates are falling, there is no need for the measure. Second, if we are to implement the measure every year, it could become very cumbersome. We try to oppose increases in respect of benefits-in-kind because people are being taxed enough.

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