Micheál Martin (Cork South Central, Fianna Fail) | Oireachtas source

People woke up this morning to worrying news about a dramatic increase in the cost of mortgages. As we know, thousands of people are under enormous stress with their mortgages, with 180,000 mortgage loans in arrears. We now have further increases in variable interest rates. Will the Taoiseach outline the time schedule for commencing the Personal Insolvency Act to give some help and support to people in mortgage arrears? Given that the Government has essentially eliminated the mortgage supplement scheme, the level of support available from the Department of Social Protection and Government is limited. This restricts the capacity of the State to help people who will be placed in difficulty as a result of this significant increase in the cost of mortgages. Are amendments to the Finance Bill proposed to bring about some alleviation for people who are in mortgage distress and may have to pay an additional €1,000 per annum?

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