Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

One of the witnesses who came before the finance committee made it very clear that she does not want to fall into arrears. Actually, both witnesses have not missed a payment, have never been in arrears and are meeting all their payments. The reality, however, is that when interest rates increase to the level they have increased to as a result of those loans being sold to the vulture funds, and when families are asked to find an extra €8,500 to keep a roof over their heads, it was explained in great detail - the Minister should not have to be told this by the victims of this scandal - that it means children have to go without other things, like school trips, family holidays and being able to go to a wedding, that put pressure on the finances of the family.

The Central Bank has told the Minister that, on average, there was a €5,000 increase before the last two hikes for 20% of customers and a €2,000 increase for half of all mortgage holders, and it is going to get worse, yet the Minister says he will consider it. Given the reality he knows, why does he not at least say he will do something to support these people? Can he even say that now, even if it is delayed as far as October, which would be scandalous? He should be intervening now, and there is no reason he cannot. We have seen interventions in a range of other things, whether hospitality, petrol and diesel or energy costs for businesses. It can happen outside the budgetary cycle. The Minister has decided to abandon these households and these homeowners, and it is absolutely disgraceful in light of these rates.

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