Mick Barry (Cork North Central, Solidarity) | Oireachtas source

There have been ten ECB interest hikes. It has gone from 0% to 4.5%. Before this latest increase, some 20% of mortgage holders are estimated to lose €3,000 this year. A further 20% are estimated to lose €5,700 a year. Mortgage holders are being put on a rack and stretched. At the same time the banks make combined profits of more than €5 billion.

This Government has refused temporary mortgage interest relief to date and reduced the banking levy last year. The motion proposes that this should be reversed. I support that. The amendment states that mortgage interest should be capped at 3%. I support that. The privatisations should be reversed. One cannot have a fair system on the basis of banking for profit. We need a nationalised banking system run in the interests of the people, not the way it was done when it was last nationalised.

As it is the first day back to the Dáil, and as the countdown to a general election has clearly begun, it is appropriate to ask some questions of the party that is proposing the motion and putting itself forward to lead the next Government, namely, Sinn Féin. It is clear that large numbers of people, in part because of this mortgage issue, especially working-class people, want rid of Fianna Fáil and Fine Gael, which have again and again supported the millionaires over the millions in Irish society as shown by this issue, as with many others. It is also clear that large numbers of ordinary people are investing their hopes for social change in Sinn Féin. People want to see a massive increase in the supply of housing, especially social and affordable homes. People want to see strong investment in public services that are currently neglected, such as health education and childcare, and a radical reduction in the huge levels of inequality within our society.

I would say to Deputy Doherty that his party's stubborn refusal to rule out a deal after the next election with the parties that have presided over these injustices, namely, Fianna Fáil and Fine Gael, is cause for concern for many who want real change. Why not shut this door unless they are actually prepared to go through it? Those looking for radical change will also be concerned when they see headlines such as "Softer Sinn Féin moves to the middle to win power" and "Sinn Féin quickly jettisons controversial policies as power beckons", both from The Irish Times this summer.

Of course, that newspaper may not be entirely fair to the Deputy's party, but the headlines are backed up by ample evidence, not least the party’s series of ongoing meetings with the top brass of Ireland Incorporated. Major change cannot be delivered for working class people unless we are prepared to make real inroads into the profits and incomes of those at the top of society and use that wealth to effect change. That is the James Connolly way.

I would love to see Sinn Féin rule out deals with Fianna Fáil and Fine Gael and pledge to go after this wealth, but until such time as I see Deputy Doherty’s party do that, I will ask hard questions of it as this general election draws nearer.

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