Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

The Minister for Finance is very familiar with the topic of high variable interest rates being charged on up to 300,000 mortgage customers. The purpose of this question is to put it back on the political agenda. Some progress, albeit modest, has been made on this issue which has been firmly put on the political agenda. I believe the Minister is in the middle of a second round of, or has concluded, meetings with the banks which he promised to hold in September. It would be good if he could give the House an update on those talks. Is he still considering the two options he outlined earlier this year, namely, increasing the levy on the banks or the introduction of legislation to deal with this issue of excessive interest rates?

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