Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

Again, I thank the Deputy for his intervention. The 35% increase in mortgage lending to date this year is not only a big increase from a low base, as I indicated, at €3.4 billion, it also amounts to a good wedge of money going into mortgages. If the figure is increasing at a rate of more than 30%, it will, over a few years, return to a significant amount.

The Deputy ascribes all sorts of motive to the Central Bank. The Central Bank has placed on record the reasons for its decision to introduce new lending rules. Housing prices, particularly in Dublin, were escalating rapidly at the time and the position looked a little scary just after Christmas last year.

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