Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

The Minister for Finance owns the majority shareholding in AIB and Permanent TSB on behalf of the Irish people and they, and other banks, pulled the wool over his eyes and over those of the Taoiseach. Last week the Taoiseach denied that the minutes were accurate. He has since clarified that point further. When did the Minister for Finance become aware that the banks did not need to charge interest, as they suggested at the meeting of 11 May? What has he done since? How will he ensure that the banks do not profiteer? Does he believe that Permanent TSB, in charging people an additional €6,300 on a loan of €250,000 over a term of 30 years which has not been extended, is not profiteering? I welcomed the payment breaks when announced but it was my understanding from my engagement with the financial system that the banks would not charge interest at this time. Every single person who availed of these breaks now has more debt and has greater repayments as a result. When did the Minister for Finance become aware of this situation? Does he believe the bankers misled him at the meeting of 11 May? I refer particularly to KBC, which was not charging interest for low-income households in Belgium at that time.

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