Martin Kenny (Sligo-Leitrim, Sinn Fein) | Oireachtas source

I compliment Deputy Doherty on tabling this motion on a mortgage interest relief scheme for homeowners who are under significant pressure. I meet them in my constituency. Indeed, we all meet them regularly. Only last week, I spoke to a woman who told me that, in the past two and a half years, her mortgage had increased by almost €180 per month, causing her difficulties. She was also dealing with increased childcare and other costs. The cost-of-living crisis we all talk about is the reality for many people.

In this motion, we are proposing a temporary measure that is targeted at the primary home - the family home - and is limited to a maximum of €1,500 per year. Those who have large mortgages would have needed large incomes to get those mortgages in the first place, so limiting the measure means the amount it would cost the State would be limited. The cost to the State - ensuring the taxpayer is not out of pocket - seems to be one of the Government's primary objectives. In this instance, however, the taxpayer could afford it, given there will be an estimated €6.2 billion surplus this year. We can afford to provide this scheme so that people can continue paying their mortgages, remain in their homes and not fall into further crisis as the situation goes on. According to the Parliamentary Budget Office and our estimate, the scheme would cost between €312 million and €371 million. In the grand scheme of things and in light of the size of the budget surplus we are looking at this year, this is something the Government can afford, especially as the scheme is targeted at those most in need.

Many people are struggling to pay their mortgages and make ends meet. The Minister has an obligation to try to provide for them and to support this motion. The Taoiseach was relatively positive towards it today. I hope that continues into the Minister's contribution and we can ensure this motion is passed.

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